The OCP Group, a world leader in plant nutrition and phosphate-based fertilizers, and Fortescue Energy, part of the global green energy, metals, and technology company Fortescue Ltd (Fortescue), have announced a groundbreaking joint venture (JV) in Morocco. This equal partnership aims to deliver green hydrogen, ammonia, and fertilizers to Morocco, Europe, and international markets. It includes the potential development of production facilities and an R&D center to promote the rapidly growing renewable energy industry in Morocco. Fortescue and OCP Group, leaders in iron ore and phosphate respectively, are united in their goal to achieve their emission reduction targets. They share a common vision of the crucial role of green hydrogen and ammonia in forging a sustainable future globally.
The partners have outlined proposed plans for four cornerstone projects in Morocco:
- Large-scale integrated production capacity for green ammonia and green fertilizers, including renewable energy, power generation, electrolysis, ammonia synthesis, and fertilizer production.
- Production of green technology and equipment.
- An R&D and Technology Center located near the Mohammed VI Polytechnic University (UM6P) near Marrakech to support the JV, the ecosystem, and other players with research into renewable energy, green hydrogen, and mineral processing.
- Collaboration of corporate venture capital funds to stimulate investments in key technological advancements. The partners aim to supply green hydrogen and ammonia for use as sources of green energy and in the production of carbon-neutral and custom fertilizers that are accessible and affordable for farmers worldwide. “Our strategic partnership with Fortescue is a testament to our joint commitment to decarbonization, the development of advanced facilities, and the delivery of competitive renewable energy products and technology.”
“This is a significant step towards fulfilling our vision of simultaneously ensuring global food security and combating climate change.” Dr. Andrew Forrest AO, Executive Chairman and Founder of Fortescue, said: “Together, Fortescue and OCP will build a world-leading and globally competitive platform to guide Morocco on its journey to becoming a powerhouse in green energy production, manufacturing, and industry. Together, we will be a key initiator and green corridor to Europe and to and from the Atlantic basin. Morocco will be a major player in the global energy transition, given it is home to some of the most promising wind and solar resources in the world, two major coastlines, and proximity to Europe and the Americas. We are proud to partner with OCP, a global industrial leader with a shared ambitious commitment to investing in renewable energy products and technology to reduce global emissions,” said Mostafa Terrab, Chairman and CEO of OCP Group.
CEO of Fortescue Energy Mark Hutchinson said: “OCP and Fortescue are fully aligned in their ambitions. We plan to create one of the world’s leading integrated renewable energy production and technology companies in Morocco that will not only serve a large and growing domestic market for green products but also have the capacity to supply other countries and continents. “This is a very important moment for Fortescue, OCP Group, and Morocco as we help revolutionize the way we power our planet and diversify the future energy security of the world while creating thousands of jobs and industries in Morocco.
” These proposed projects will also leverage the expertise of INNOVX, a multisectoral platform dedicated to building innovative and sustainable businesses and contributing to the creation of emerging ecosystems with a strong local impact. Today’s agreement underscores the shared vision of OCP Group and Fortescue to make Morocco a powerhouse in green energy production, manufacturing, and industry with significant long-term benefits for Morocco. The joint venture is subject to usual closing conditions, including regulatory approvals.
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