Morocco announces £25bn green hydrogen project
The project selection process under the "Morocco Offer" for green hydrogen remains open to investors. Credit: Adobe Stock
The Morocco deal, which features 319 billion dirhams, is set to focus on the production of ammonia, industrial fuel and green steel.
The Moroccan Government has announced a £25bn green hydrogen project, offering international investors the opportunity to pitch in for mega green hydrogen projects, which will in turn boost exports while increasing Morocco’s market prices.
With the ability to bring energy idnependence to the region, the ‘Morocco Offer’ alligns with aims of “positioning Morocco among the leading countries in the green hydrogen sector”.
During a committee meeting on 6 March, a group of investors were selected to carry out six projects in the three southern regions of Morocco.
Selected for their expertise and lead in green hydrogen across their respective countries, the companies will be allocated a maximum of 30,000 hectares per project.
Supporting investment in the region, Morocco’s own Nareva was selected for investment in ammonia, while Saudi Arabia’s ACWA Power was selected for green steel.
The ORNX consortium, which comprises of US company “Ortus,” the Spanish company “Acciona,” and the German company “Nordex,” are set to invest in ammonia production. While the Taqa and Cepsa consortium, will focus on ammonia and industrial fuel production.
The fifth company, features a consortium of China’s UEG and China Three Gorges, which is selected to produce ammonia.
Building on previous deals, the project will allow investors the strategic use of Morocco’s georgraphical position while contributing to the Kingdom’s economic development.
It is stated that the project selection process under the “Morocco Offer” for green hydrogen remains open to investors.
