Fortescue and fertiliser business OCP Group have agreed to form a landmark joint venture (JV) to supply green hydrogen, ammonia, and fertilisers to Morocco, Europe, and international markets.
The partnership includes the potential development of manufacturing facilities and an R&D hub to advance the rapidly growing renewable energy industry in Morocco.
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Fortescue and OCP Group have proposed plans for four cornerstone projects in Morocco:
- Large-scale integrated green ammonia and green fertiliser production capacity, including renewables, energy generation, electrolysis, ammonification and fertiliser production;
- Manufacturing of green technology and equipment;
- An R&D and Technology Hub, located alongside Mohammed VI Polytechnic University (UM6P) near Marrakech, to bolster the JV, the ecosystem and other players, with research in renewable energy, green hydrogen and minerals processing; and
- Collaboration of corporate venture capital funds to drive investment in key technology advancements.
The partners’ objective is to supply green hydrogen and ammonia for use both as sources of green energy and in the manufacture of carbon-neutral and customised fertilisers that are accessible and affordable for farmers around the world.
OCP Group chairman and CEO Mostafa Terrab said, “Our strategic partnership with Fortescue is a testimony to our joint commitment to decarbonisation, driving the development of cutting-edge facilities and delivering competitive renewable energy, products and technology. This is a key step towards fulfilling our vision of simultaneously ensuring global food security and combating climate change.”
Fortescue executive chair and founder Dr Andrew Forrest AO said, “Together, Fortescue and OCP will build a world-leading and globally competitive platform to accompany Morocco’s journey into a green energy production, manufacturing, and industrial powerhouse.
“Together, we will be a key originator and green corridor into 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 world’s most prospective wind and solar resources, two large coastlines, and is in close proximity to Europe and the Americas.
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“We are proud to partner with OCP, a global industrial leader, with a shared ambitious commitment to invest in renewable energy, products and technology to reduce global emissions.”
The venture is subject to customary closing conditions, including regulatory approvals.
