Morocco's Green Hydrogen Offer Draws Interest from Global Players

Wednesday 03 April 2024 - 09:38

Morocco's offer regarding green hydrogen is already attracting interest from major global operators, who have dispatched representatives to engage with Moroccan officials on this strategic initiative. Here are the insights.

It took less than a week for the first delegations of foreign officials to arrive in Rabat to initiate consultations regarding Morocco's Green Hydrogen Offer. At the headquarters of the Ministry Delegated for Investment, Convergence, and Evaluation of Public Policies in Rabat, several meetings have already taken place. Mohcine Jazouli, the minister delegated for investment, convergence, and evaluation of public policies, held a meeting with Catherine Fiamma MacGregor, CEO of the French giant Engie, considered a major European player in the energy sector. "Engie Group's presence in Morocco spans many years, with several projects demonstrating a deep relationship. Today, with Morocco's promising prospects in energy sector investment, Engie's potential for increased activity in Morocco is significant.
The meeting underscores the enduring partnership between Morocco and Engie, ready to explore new avenues of collaboration and tackle future energy challenges together.
Morocco emerges as the ideal partner and best-positioned for Engie's efforts," we learn from the ministry shortly after this initial meeting. The CEO of the French group was accompanied by his top management.
The meeting with Moroccan officials included, among others, Paulo Almirante, deputy CEO in charge of renewable activities, energy management, as well as Sébastien Arbola, deputy CEO in charge of Flex Gen & Retail activities. This meeting took place just days after another meeting held, also at the investment ministry's headquarters, with another senior French official. Indeed, Minister Mohcine Jazouli met with Gérard Mestrallet, special envoy of French President Emmanuel Macron, to explore collaboration opportunities between Morocco and Europe in the energy sector, being a key partner offering institutional stability and global competitiveness. "It was also an opportunity to examine ways to strengthen economic partnerships with France," notes the same source. Before being appointed by President Macron as special envoy for the logistic corridor project linking Asia to Europe via the Middle East, Gérard Mestrallet was a prominent figure in the Engie Group. This energy industry veteran had notably founded Storengy, an Engie subsidiary specialized in underground natural gas storage, as well as in the development of geothermal projects and carbon-neutral energy storage solutions.

U.S. Congress
Previously, the MICEPP (Ministry of Investment, Convergence, and Evaluation of Public Policies) organized a meeting with a delegation from the "House Energy and Commerce Committee" of the U.S. Congress on Friday, March 15th. "Morocco's strategic location at the crossroads of Africa, Europe, and the Middle East, its political stability, its young and qualified human capital, and its competitive green renewable energies make the Kingdom a preferred destination for investments. This meeting provided an excellent opportunity to present opportunities to American companies through the investment charter, the roadmap for improving the business environment 2023-2026, as well as the Moroccan Green Hydrogen Offer issued by the head of government in accordance with the Royal High Directives," explains the ministry. And it continues: "As the only African country to have concluded a free trade agreement with the United States, it is imperative for us to leverage this partnership to unlock mutual synergies and pave the way for a sustainable and decarbonized future."
Finally, it is worth noting that in accordance with the Royal High Directives given during the working session chaired by HM King Mohammed VI on November 22, 2022, and the High Instructions of His Majesty, contained in the speech of the Sovereign on the occasion of the 24th anniversary of the Throne Day on July 29, 2023, in which His Majesty the King had instructed the government to rapidly and qualitatively implement "Morocco's Offer" in the field of green hydrogen "to valorize the assets of our country in this regard and to better respond to projects carried by global investors in this promising sector"; the head of government Aziz Akhannouch issued, on Monday, March 11, 2024, in Rabat, the circular for the implementation of "Morocco's Offer" for the development of the green hydrogen industry, which constitutes an operational and incentivizing offer, covering the entire value chain of the green hydrogen industry. An offer tailored to the needs of investors in order to position the Kingdom as a competitive player in this emerging sector with great potential. The circular from the head of government details the operational steps for the implementation of "Morocco's Offer," the means implemented by the State to ensure the success of this operation, as well as the roles of the various stakeholders. This offer is based on the implementation of a holistic, pragmatic, and transparent approach that provides all the necessary visibility to investors.