Green Capital Group has revealed an ambitious plan to develop a massive 8-gigawatt (GW) green hydrogen project in Dakhla, Morocco over the next five years. The company, a Polish clean energy entity, has been spearheading Europe’s renewable energy market for years and consists of numerous companies with a share capital. Led by Green Capital Group, the group oversees end-to-end investment operations, including the green hydrogen project. The company has already pinpointed the project’s site location and is in the process of finalizing the budget. In support of this project, the energy company established a subsidiary in Casablanca earlier this year, enticed by Morocco’s vast wind and solar potential, favorable business climate, and proximity to Europe.
The main objective of this green hydrogen project is producing renewable electricity and supplying it through medium-voltage lines to industrial consumers. The company is focusing on regions like Tangier, the Oriental region, Marrakech-Safi, Taza, Fes, and Laayoune for wind sources. Feasibility studies in these areas are reaching their final stages before the company initiates the acquisition process and submits authorization requests to the Ministry of Energy Transition. This venture aligns with Green Capital Group’s strategy for international expansion, intending to capitalize on the green projects in Africa and Asia.
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Morocco as a Hub For Green Hydrogen Production
Morocco stands as a hub for production of green hydrogen, fostering investments in the green hydrogen project due to its potential for cost-effective green fuel production. As sustainability gains momentum globally, the demand for green hydrogen is expected to surge. European countries are already planning substantial investments in both the green hydrogen project and solar panel initiatives, with Morocco, Egypt, and South Africa playing crucial roles as collaborators. The European Investment Bank estimates that Africa’s capacity for green hydrogen production presents a 1 trillion-euro investment opportunity. By 2035, the continent is projected to achieve an annual production capacity of 50 million tonnes of green hydrogen, offering a highly competitive price of $2 or less per kilogram.
