Morocco Endorses $32.5 Billion Green Hydrogen Projects

Morocco approves six green hydrogen projects totaling $32.5 billion, involving national and international companies for the production of ammonia, industrial fuels, and green steel. These projects aim to enhance domestic energy production and boost exports to the EU, with land allocated for each initiative.

The Moroccan government has officially approved six significant green hydrogen projects, with a total investment value of $32.5 billion. This initiative aims to enhance the production of ammonia, industrial fuels, and green steel, primarily in collaboration with both national and international firms. Prominent companies involved include the American firm Ortus, Spain’s Acciona, and Germany’s Nordex, which aim to jointly produce green ammonia. Furthermore, Morocco’s own Nareva has plans to produce green ammonia, industrial fuel, and sustainable steel, while Saudi Arabia’s Acwa Power is set to focus on steel production.

Following the signing of preliminary agreements, Morocco will allocate up to 30,000 hectares of land for each of these projects. However, the government has yet to disclose further specifics regarding the timeline and funding sources for these ventures. The authorities anticipate that green hydrogen initiatives will contribute significantly to achieving national energy objectives and boosting exports to the European Union. The selection process for additional projects remains open to investors.

Additionally, a noteworthy development in the green hydrogen sector is reported by GMK Center, highlighting Sweden’s Hybrit joint venture. This collaboration, which includes steelmaker SSAB, mining company LKAB, and energy company Vattenfall, has successfully completed a pilot hydrogen storage project, as stated by the Swedish Energy Agency. The pilot demonstrated the technical viability of using hydrogen for fossil-free metallurgical production on an industrial level.

The Moroccan government’s approval of green hydrogen projects marks a decisive step towards sustainable energy production. Collaborating with various international firms underscores Morocco’s commitment to expanding its renewable energy sector. With potential benefits for domestic energy goals and increased EU exports, these initiatives also pave the way for further investments in green technologies. The continuing openness for project selection offers promising opportunities for investors in this sector.

Original Source: gmk.center