Acciona, Moeve Advance Green Hydrogen Projects in Morocco
USD4.5B
Deal Value
2 GW
Capacity
development
Stage
Acciona and Moeve (formerly Cepsa) have progressed to the development phase of large-scale green hydrogen projects in Morocco after securing preliminary land reservation agreements. Moeve has partnered with Taqa Morocco to develop a green ammonia and industrial fuel complex at Jorf Lasfar Port, with Taqa Morocco supplying renewable electricity. Acciona, through its joint venture Acciona Nordex Green Hydrogen, along with Nordex and Ortus (ORNX consortium), secured land in Laayoune for a renewable ammonia production project. These initiatives fall under Morocco’s “Offre Maroc” framework, aiming to position the kingdom as a leading hydrogen hub.
Deal Analysis
Acciona and Moeve's advancement of large-scale green hydrogen projects in Morocco signifies a major step towards the country's ambition to become a leading green hydrogen hub. Moeve's partnership with Taqa Morocco focuses on developing a green ammonia and industrial fuel complex at Jorf Lasfar Port, leveraging Taqa Morocco's renewable electricity supply. Acciona, through its joint venture Acciona Nordex Green Hydrogen, along with Nordex and Ortus (ORNX consortium), is developing a renewable ammonia production project in Laayoune. These projects are facilitated by Morocco's "Offre Maroc" framework, which aims to attract investment and establish the kingdom as a key player in the global green hydrogen market. The projects are currently in the development phase, with a signing date targeted for March 1, 2025.
- Involves major players like Acciona, Moeve, Taqa Morocco, and Nordex.
- Focuses on large-scale green hydrogen production with a capacity of 2 GW.
- Aligned with Morocco's "Offre Maroc" framework, indicating strong government support.
- Targets both green ammonia and industrial fuel production, diversifying the application of green hydrogen.
Market Context: The green hydrogen sector is experiencing rapid growth, driven by the global push for decarbonization and the increasing availability of renewable energy sources. Morocco, with its abundant solar and wind resources, is well-positioned to become a competitive producer and exporter of green hydrogen and its derivatives.
Timeline
Announced
Signed
Mar 1, 2025
Closed
Counterparts (10)
Developer
ACCIONA Energía
ACCIONA Energía is a global operator exclusively in renewable energy, focusing on the development, c...
Moeve
Moeve is a company operating in the infrastructure industry. Further details on their specific inves...
Nareva
Nareva is a Moroccan company focused on renewable energy, water management, and thermal power genera...
United Energy Group (UEG)
United Energy Group (UEG) is an energy company focused on oil and gas exploration and production. Th...
China Three Gorges
China Three Gorges Corporation (CTG) is a Chinese state-owned power company and the world's largest ...
Partner
Ortus
Ortus Fitness is a Spanish company that designs, manufactures, and supplies fitness equipment for gy...
TAQA
TAQA is a company in the renewables industry. The website requires Javascript to be enabled to view ...
ACCIONA Energía
ACCIONA Energía is a global operator exclusively in renewable energy, focusing on the development, c...
Market Context
This deal is part of the Hydrogen, Solar, Onshore Wind, Green Hydrogen sector in Morocco.
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