Green Hydrogen and Ammonia Venture Approved in Morocco

Saturday 27 July 2024 - 11:00

Groundbreaking Collaboration Between OCP and Fortescue Greenlit by Competition Council

The Moroccan Competition Council has officially sanctioned the formation of a pioneering joint venture between OCP Green Energy SA, a subsidiary of Morocco's OCP Group, and Fortescue, an Australian enterprise known for its green energy endeavors.

The council's approval, announced on July 24, marks a significant milestone in the partnership initially unveiled in April 2024. The joint venture is set to spearhead the production of green hydrogen and green ammonia within Morocco, promising substantial advancements in sustainable energy and agriculture.

Transformative Energy and Agricultural Production

The collaboration aims to establish four expansive projects focused on integrated production facilities for green ammonia and fertilizers. These facilities will incorporate renewable energy generation, electrolysis, and ammonification processes, laying the groundwork for a more sustainable future in energy and agriculture.

A cornerstone of this initiative is the development of a Research & Development and Technology Hub near the Mohammed VI Polytechnic University (UM6P) in Benguerir. This hub will concentrate on renewable energy, green hydrogen, and mineral processing, fostering innovation through alliances with corporate venture capital funds.

Strategic Signatures and Statements

The agreement was formalized in April, with signatures from Mostafa Terrab, Chairman and CEO of the OCP Group, and Andrew Forrest, Executive Chairman and Founder of Fortescue.

Terrab highlighted the strategic importance of the partnership, stating, “Our collaboration with Fortescue underscores our shared commitment to decarbonization, the development of state-of-the-art facilities, and the delivery of competitive renewable energy, products, and technology.”

Echoing this sentiment, Mark Hutchinson, CEO of Fortescue Energy, remarked, “This partnership marks a crucial moment for Fortescue, OCP Group, and Morocco. Together, we are transforming energy production, enhancing global energy security, and fostering economic growth and job creation in Morocco.”

Ambitious Green Investment Program

This venture forms a critical component of OCP Group’s expansive Green Investment Program, a $13 billion initiative designed to bolster fertilizer production capacity while achieving carbon neutrality by 2040. The program emphasizes substantial investments in renewable energy sources, such as solar and wind, to power production processes and enhance environmental sustainability.

With this joint venture, Morocco is poised to become a global leader in green hydrogen and ammonia production, setting a precedent for sustainable industrial practices and contributing to the global effort to combat climate change.