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by
Seneca ESG
- December 8, 2022
Morocco is studying the possibility of sealing an investment deal for two industrial projects in 2023, and Indian private conglomerate Adani Group [ADE:IN] is among the firms interested in the massive hydrogen project in Morocco, as reported by Bloomberg on December 6. Morocco’s Energy Transition Minister Leila Benali confirmed some specific discussions between the ministry and Adani Group, revealing that the two parties are aligned on some aspects of the hydrogen scheme. According to a Bloomberg report in October, Adani Group is mulling building wind and solar generation plants in Morocco, as well as facilities to produce green hydrogen for exports. This could become Adani’s largest clean power development outside India with an installed capacity of up to 10 gigawatts (GW).
Morocco is attracting investors seeking to export green fuels to the European Union (EU), leveraging its geographical proximity and free trade agreement with the EU. The EU has a rising demand for green fuels as it intends to diversify energy supply chains and get rid of reliance on Russian gas. Similarly, Morocco seeks to reduce its dependency on fossil fuels and ammonia imports by developing the hydrogen industry. The large fertilizer industry makes Morocco a major ammonia importer, while hydrogen can serve as a substitute gas in the energy-intensive ammonia-producing process. On December 3, Morocco’s fertilizer giant OCP also vowed to facilitate investment in green hydrogen, as part of the company’s USD13bn plan to cut reliance on ammonia imports.
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