OCP & Fortescue to partner in green energy, hydrogen and ammonia in Morocco

Today, OCP Group, a global leader in plant nutrition and phosphate-based fertilizers,
and Fortescue Energy, part of global green energy, metals and technology company
Fortescue Ltd (Fortescue), announced a landmark Joint Venture (JV) in Morocco.
This equal partnership aims to supply green hydrogen, ammonia, and fertilizers to
Morocco, Europe, and international markets. It includes the potential development of
manufacturing facilities and an R&D hub to advance 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 reach their emissions reductions targets. They share a common vision
for the pivotal role of green hydrogen and ammonia in forging a sustainable future
globally.
The partners have laid out proposed plans for four cornerstone projects in Morocco:
1. Large-scale integrated green ammonia and green fertilizer production capacity,
including renewables, energy generation, electrolysis, ammonification and fertilizer
production;
2. Manufacturing of green technology and equipment;
3. 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
4. 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 customized fertilizers
that are accessible and affordable for farmers around the world.
Mostafa Terrab, Chairman and CEO of OCP Group, 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.”
Press release
Marrakesh, 8 April 2024
Dr Andrew Forrest AO, Fortescue Executive Chair and Founder 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.
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.”
Fortescue Energy CEO, Mark Hutchinson added: “OCP and Fortescue are fully aligned
on their ambitions. We intend to create in Morocco one of the world’s leading integrated
renewable energy, manufacturing, and technology enterprises, supplying not only a large
and growing domestic market for green products, but also with the potential to supply
other countries and continents.
This is a very significant moment for Fortescue, OCP Group and Morocco as we help
revolutionize the way we power our planet and diversify the world’s future energy security,
while creating thousands of jobs and industries in Morocco.”
These proposed projects will also leverage the expertise of INNOVX, a multi-sectoral
venture platform that is dedicated to building innovative and sustainable businesses,
and contributing to creating emerging ecosystems with a strong local impact.
Today’s agreement underlines OCP Group’s and Fortescue’s shared vision to help make
Morocco a green energy production, manufacturing and industrial powerhouse, with
significant long-term benefits for Morocco.
The venture is subject to customary closing conditions, including regulatory approvals.