Morocco is taking significant steps to attract investments in green hydrogen by allocating 1 million hectares of public land to hydrogen projects, according to an announcement made by the government on Monday.
The first stage of the hydrogen project development will involve providing investors with a total of 300,000 hectares of land, ranging from 10,000 to 30,000 hectares, depending on the size of the projects. This move, known as the "Morocco Offer," aims to boost the development of green hydrogen and is supported by a competitive infrastructure that adheres to international standards and the requirements of the green hydrogen industry. Additionally, the government has implemented incentives and support measures for project holders.
Morocco's commitment to green hydrogen reflects its ambition to play a significant role in the global energy transition. The country benefits from abundant sunlight throughout the year, making it a major producer of solar power. Its proximity to the European Union (EU) positions Morocco as an attractive energy partner, especially considering the EU's ambitious clean energy, emission reduction, and net-zero targets.
With a goal of generating 52% of its electricity from renewables by 2030, Morocco has emerged as a promising player in the renewable energy sector. The country is already home to the Noor Ouarzazate Solar Complex, the world's largest concentrated solar project, boasting a capacity of over 500 megawatts (MW).
Now, Morocco aims to attract investments in green hydrogen, which is produced by splitting water through electrolysis using renewable energy sources. While hydrogen is gaining traction as a key element in decarbonization efforts, analysts note that the high costs associated with green hydrogen production currently hinder the widespread deployment of projects. However, with Morocco's commitment to creating a favorable environment for green hydrogen investments, the country is poised to make significant contributions to the global energy transition.
Source: OilPrice.com
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