Australian energy and mining multinational, Fortescue, has entered in a partnership with Moroccan state-owned chemicals production company, OCP Group, for the production of green hydrogen, green ammonia, and fertilisers for supply to Morocco, Europe, and international markets.
The joint venture (JV) announced this week will see the parties collaborate in developing manufacturing facilities, as well as a research and development (R&D) hub to advance the rapidly growing renewable energy industry in Morocco.
In addition to establishing a large-scale green ammonia and green fertiliser production plant, the parties outlined plans for collaboration is additional cornerstone projects in Morocco including manufacturing of green technology and equipment, and establishing venture capital funds for investment in green energy ventures.
“Morocco will be a major player in the global energy transition given it is home to some of the world’s most prospective wind and solar resources, two large coastlines, and is in close proximity to Europe and the Americas,” said Dr Andrew Forrest AO, Fortescue Executive Chair and Founder.
“We are proud to partner with OCP, a global industrial leader, with a shared ambitious commitment to invest in renewable energy, products and technology to reduce global emissions,” Forrest added.
Alignment with Morocco’s green hydrogen goals
The Morocco partnership deal comes just after the Australian conglomerate recently opened a hydrogen electrolyzer factory near Gladstone, Queensland. The facility will have capacity to produce more than 2 GW of proton exchange membrane (PEM) electrolyzer stacks per year, which the company hopes to use to support its green hydrogen production ambitions.
Morocco is hoping to capitalise on its abundant renewable energy resources and proximity to European markets to produce green hydrogen and green ammonia to Europe where there’s a growing demand for green fuels for the bloc to meet its decarbonisation targets as envisioned in the European Green Deal.
“OCP and Fortescue are fully aligned on their ambitions. We intend to create in Morocco one of the world’s leading integrated renewable energy, manufacturing, and technology enterprises, supplying not only a large and growing domestic market for green products, but also with the potential to supply other countries and continents,” said Mark Hutchinson, Fortescue Energy CEO.
Mostafa Terrab, Chairman and CEO of OCP Group commented on the partnership saying; “Our strategic partnership with Fortescue is a testimony to our joint commitment to decarbonisation, driving the development of cutting-edge facilities and delivering competitive renewable energy, products and technology.”
“This is a key step towards fulfilling our vision of simultaneously ensuring global food security and combating climate change,” concluded Terrab.
FURTHER Reading: Morocco to allocate 1mln hectares to green hydrogen projects
