Insider Brief
- Morocco has approved $32 billion in green hydrogen investments, selecting six projects under its “Morocco Offer” strategy.
- The initiative, announced on March 6 in Rabat and backed by King Mohammed VI, involves global energy firms including Ortus, Acciona, Nordex, Taqa, Cepsa, Nareva, ACWA Power, UEG, and China Three Gorges.
- Morocco aims to leverage its renewable energy resources to position itself as a key supplier of hydrogen and ammonia to international markets, particularly Europe, as global demand for clean fuels rises.
Morocco is investing about $32 billion in six green hydrogen projects as part of its “Morocco Offer” strategy.
The decision was made during a high-level meeting in Rabat on March 6, chaired by Moroccan Head of Government Aziz Akhannouch, according to a press release from the Head of Government. The project aligns with the vision of King Mohammed VI, who has called for rapid implementation of the country’s green hydrogen strategy.
https://www.acciona.com/The investor consortium “ORNX” consists of American company Ortus, Spain’s Acciona, and German wind energy firm Nordex, which will invest in ammonia production. Another group, formed by Emirati firm Taqa and Spanish oil company Cepsa, will focus on ammonia and industrial fuel production. Meanwhile, Moroccan company Nareva is set to develop projects in ammonia, industrial fuel, and green steel production. Saudi Arabia’s ACWA Power and a Chinese consortium of UEG and China Three Gorges will also invest in ammonia and green steel manufacturing.
Morocco’s green hydrogen strategy is driven by its wind and solar resources, which make it an attractive destination for renewable energy projects, according to the government. The country has already made progress in clean energy, with wind and solar farms contributing a growing share to its energy mix. The government hopes to leverage these resources to produce hydrogen and its derivatives, such as ammonia and synthetic fuels, for domestic use and export.
The government indicates the push into green hydrogen comes as global demand for clean fuels rises, with the European Union and other major economies seeking alternatives to fossil fuels. Morocco’s proximity to Europe and its well-developed infrastructure give it a perceived competitive advantage in supplying green hydrogen to international markets.
King Mohammed VI first outlined the “Morocco Offer” in his July 2023 Throne Speech, emphasizing the need for a structured and disciplined approach to green hydrogen development. The strategy aims to create a favorable environment for investors while ensuring the projects align with Morocco’s long-term economic and environmental goals.
The government has pledged to support the selected investors with streamlined regulations, infrastructure development, and favorable investment conditions. Officials see green hydrogen as a cornerstone of Morocco’s future economic growth, with the potential to create thousands of jobs and drive industrial expansion in sectors such as steelmaking and transportation.
