Morocco Embarks on Multi-Billion Green Hydrogen Ventures
Key Ideas
- Morocco's government approved green hydrogen projects worth $32.5 billion for producing ammonia, steel, and industrial fuel.
- Companies from various countries like the United States, Spain, Germany, UAE, Saudi Arabia, and China are involved in these projects.
- The aim is to use green hydrogen to meet domestic energy goals, boost exports, and align with the EU's Green Deal objectives.
- Morocco plans to allocate significant land for these projects and increase renewable energy capacity to 52% by 2030.
Morocco has approved green hydrogen projects with a total investment of $32.5 billion, focusing on producing ammonia, steel, and industrial fuel. Companies from the United States, Spain, Germany, UAE, Saudi Arabia, and China are part of these ventures. The government's initiative aims to harness green hydrogen, produced through water electrolysis using renewable energy, to achieve domestic energy targets and enhance exports, particularly to the European Union following its Green Deal commitments. Concerning specific projects, companies like Ortus, Acciona, Nordex, Taqa, Cepsa, Nareva, Acwa Power, UEG, and China Three Gorges are set to undertake ammonia, fuel, and steel production. Morocco intends to provide each venture with up to 30,000 hectares of land upon signing initial agreements. Additionally, international collaborations are evident, with agreements between France's TotalEnergies and Engie with local entities for green hydrogen initiatives. The country's long-term vision involves a significant increase in renewable energy capacity, targeting 52% by 2030. This move not only aligns with national energy goals but also represents a step towards enhancing economic growth through technological advancements and international partnerships.
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