Morocco promotes green hydrogen investment

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The Moroccan government announced in a statement on Monday that 1 million hectares of land in Morocco has been allocated for green hydrogen projects.

As part of the first phase, 300,000 hectares will be made available to domestic and international investors.

Green hydrogen is hydrogen produced by electrolysis using renewable energy without relying on electricity from fossil fuels.

This hydrogen can be used as a clean energy source, producing only water vapor and heat as by-products.

The Moroccan government says hundreds of domestic and international investors have already expressed “strong interest” in the project.

Officials claim the initiative will allow the country to “occupy a privileged position” in the world. Development of renewable energy By leveraging Morocco’s “rich and diverse natural resources, strategic geographic location, world-class infrastructure, and skilled human capital.”

Although Morocco’s oil and gas reserves are small, its abundance of solar and wind resources puts it in a favorable position to generate green energy.

Unlike other countries in the region, it is also politically stable, which is an encouraging sign for investors.

Morocco aims to produce 52% of its energy from renewable sources by 2030, and the government is investing heavily in infrastructure to achieve this goal.

Financial institutions such as the World Bank, the European Investment Bank and the African Development Bank are already funding sustainable energy projects in the country, especially the Ouarzazate solar power plant, the world’s largest concentrated solar power facility. . .

For the time being, however, Morocco still relies on imports for around 90% of its energy needs and remains highly dependent on fuel sources.

In 2022, 62% of the country’s electricity production came from burning coal, gas, and oil, but only 21.3% came from wind and solar power, and 16.7% came from hydropower.