OCP & Fortescue to Forge Partnership for Green Energy, Hydrogen, & Ammonia in Morocco

On April 8, 2024, OCP Group and Fortescue Energy, a subsidiary of Fortescue Ltd, announced a landmark Joint Venture (JV) in Morocco. This balanced collaboration seeks to provide green hydrogen, ammonia, and fertilizers to Morocco, Europe, and global markets, while also propelling the renewable energy sector in Morocco forward. OCP Group, a global leader in plant nutrition and phosphate-based fertilizers, and Fortescue, known for its expertise in green energy, metals, and technology, are united in their goal to reach emissions reductions targets. They envision green hydrogen and ammonia playing a pivotal role in forging a sustainable future globally.

The proposed plans for four cornerstone projects in Morocco include:

1.    Large-scale integrated green ammonia and green fertilizer production capacity, incorporating renewables, energy generation, electrolysis, ammonification, and fertilizer production.

2.     Manufacturing of green technology and equipment.

3.    An R&D and Technology Hub near Marrakech, located alongside Mohammed VI Polytechnic University (UM6P), to bolster research in renewable energy, green hydrogen, and minerals processing.

4.      Pooling of corporate venture capital funds to stimulate investment in crucial technological advancements.

The objective is to supply green hydrogen and ammonia for use as sources of green energy and in the manufacture of carbon-neutral and customized fertilizers, accessible and affordable for farmers worldwide.

Mostafa Terrab, Chairman and CEO of OCP Group, expressed their commitment to decarbonization and driving the development of cutting-edge facilities for renewable energy products and technology. This represents a pivotal stride toward realizing our vision of safeguarding global food security while addressing the challenges of climate change simultaneously.

Dr. Andrew Forrest AO, Executive Chair and Founder of Fortescue, emphasized, "In collaboration, Fortescue and OCP will establish a world-leading and highly competitive platform to support Morocco's evolution into a green energy production, manufacturing, and industrial hub.

"Together, we will serve as a significant source and green conduit connecting Europe and the Atlantic basin.

"Morocco is poised to become a key player in the global energy transition, boasting abundant wind and solar resources, extensive coastlines, and strategic proximity to Europe and the Americas.

"We are delighted to join forces with OCP, a global industrial leader, in our shared ambitious commitment to invest in renewable energy, products, and technology to mitigate global emissions.".

Mark Hutchinson, CEO of Fortescue Energy, further commented, "OCP and Fortescue share a unified vision and purpose. Our aim is to establish in Morocco one of the foremost integrated enterprises in renewable energy, manufacturing, and technology. This endeavor will not only cater to a burgeoning domestic market for green products but also holds the potential to serve other nations and continents.

"This marks a momentous occasion for Fortescue, OCP Group, and Morocco as we spearhead a transformation in global energy generation and bolster future energy security. Simultaneously, this initiative will generate numerous employment opportunities and foster the growth of industries in Morocco."

The proposed projects will leverage the expertise of INNOVX, a multi-sectoral venture platform dedicated to building sustainable businesses and contributing to emerging ecosystems with a strong local impact. This agreement underscores OCP Group's and Fortescue's shared vision to position Morocco as a green energy production, manufacturing, and industrial powerhouse, with significant long-term benefits for the country.