Morocco’s phosphate and fertilizer giant, the OCP Group, and Fortescue Energy, a global leader in green energy, metals, and technology, have announced a joint venture to advance green energy, green hydrogen, and green ammonia in Morocco.
The partnership will supply green hydrogen, green ammonia, and green fertilizers to Moroccan, European, and global markets. The joint venture will also include establishing manufacturing facilities and an R&D Hub to bolster Morocco’s burgeoning renewable energy sector.
Fortescue and the OCP Group are aligned in their pursuit of emission reduction goals, recognizing the pivotal role of green hydrogen and green ammonia in fostering a sustainable global future. Together, they aspire to position Morocco as a hub for green energy production, manufacturing, and industry, with far-reaching benefits for the nation.
The partners have outlined plans for large-scale integrated production of green ammonia and green fertilizers, integrating renewable energy sources, power generation, electrolysis, ammonification, and fertilizer production, as well as green technology and equipment manufacturing.
The partners envision an R&D and Technology Hub near Marrakech, fostering research in renewable energies, green hydrogen, mineral processing, and collaboration with corporate venture capital funds to drive technological advancements.
The two parties will deliver green hydrogen and green ammonia for energy generation and the production of carbon-neutral fertilizers, catering to farmers worldwide.
“Our strategic partnership with Fortescue demonstrates our shared commitment to decarbonization, driving the development of cutting-edge facilities and providing renewable energy, products, and technologies at competitive prices,” OCP’s CEO Mostafa Terrab said.
Executive Chairperson and Founder of Fortescue Andrew Forrest AO stated that Fortescue and OCP will build a leading global and internationally competitive platform to support Morocco’s ambition to become a powerhouse in green energy production, manufacturing, and industry, expressing hope to be a key player and a green corridor for Europe, to and from the Atlantic basin.
“Morocco is poised to become a major player in the global energy transition as it hosts some of the most promising wind and solar resources in the world, possesses two large maritime fronts, and is located close to Europe and the Americas,” Forrest added.
CEO of Fortescue Energy Mark Hutchinson said that its company intends to create in Morocco one of the world’s leading integrated companies in renewable energy, manufacturing, and technology, providing not only a large and growing domestic market for green products but also the potential to supply other countries and continents.
The proposed projects will leverage the expertise of INNOVX, a multi-sector enterprise platform dedicated to sustainable business development and ecosystem creation with local impact.
The establishment of this joint venture is contingent upon necessary regulatory approvals, according to the press release.