The North-African nation of Morocco has revealed its plans to offer 300,000 hectares of land to local and international investors in the green hydrogen sector. The Moroccan government recently announced it plans to allow vast investments in the green hydrogen sector as the nation aims to become a major stakeholder in the renewable energy sector. The plan allows for massive amounts of hydrogen to be added to the grid while also fostering international relations by exporting hydrogen to Europe, which is just a stone’s throw away.
Morocco will play a major role in the field of energy transition globally, according to the government
In a press release from the office of the Prime Minister, the Moroccan government underscored the importance the country could play in the global transition towards the renewable energy sector. For generations, every nation in the world has relied on the tyrannical power that the fossil fuels sector presents, especially in emerging countries that are underdeveloped.
The offer from the government extends beyond new projects and includes integrated projects covering electricity generation from renewable energies. Morocco is perfectly placed to become a global leader in the renewable energy sector. The increased capacity for the wind and solar sectors has resulted in many companies showing interest in investing in the nation.
The government has stated that nearly 100 companies have expressed interest in producing green hydrogen in Morocco, and reports are that the nation aims to increase the installed capacity from 37.6% to 52% by 2030. The Noor Ouarzazate Solar Complex and the Tarfaya Wind Farm exemplify the nation’s commitment to shifting the favored energy generation to the renewable energy sector.
The Moroccan economy relies on the success of the initiative promoted by the government
Several industry insiders have pointed out that the success of the initiative relies on several factors. The strategic location of Morocco allows it to foster international relations with the nations of Europe, which are on the lookout for cheap renewable energy to purchase as demand grows.
Of the mitigating factors, several are key to the success of the project, which include:
- An abundance of renewable resources, such as the sun and wind.
- Manpower availability: Morocco has a vast workforce at the ready.
- Political stability: Unlike other countries in the region, Morocco is not facing any political upheaval.
- A favourable business environment: Morocco’s government is fostering investment from foreign entities with substantial incentives.
“Green hydrogen is expected to be a crucial energy carrier and one of the main enablers of the energy transition and sustainable growth,” – Moroccan government statement
Europe is searching for any opportunities to increase the standing of the hydrogen sector, fostering international business relationships through strategic partnerships, underscored by the recent news of the H2Med alliance adding 40 new members.
A developer of mass-scale green hydrogen projects, HyDeal, released a statement that outlines the role that Morocco is playing in the international energy transition taking place.
“The EU has recognised that North Africa, with its unique combination of outstanding renewable energy resources and immediate proximity to Europe is key to its supply of competitive green hydrogen at scale,” – Thierry Lepercq, the Paris-based founder of HyDeal
Morocco could become a global leader in the energy sector’s transition to hydrogen power
Hydrogen is one of the most undervalued forms of energy in the current market. For years, the sector has lagged behind the likes of solar and wind power, as many nations and private investors were wary of making serious commitments to the sector. However, the news of Morocco allocating vast amounts of land for hydrogen production, along with the news coming out of Japan that it has developed a new hydrogen-powered ship engine, means that hydrogen has not yet reached its full potential.
