A global leader in plant nutrition and phosphate-based fertilizers, OCP Group and Fortescue Energy, a global green energy, metals and technology company, have signed a landmark Joint Venture (JV) deal to supply green hydrogen, ammonia, and fertilizers to Morocco, Europe, and international markets.
The deal also includes the potential development of manufacturing facilities and an R&D hub to advance the rapidly growing renewable energy industry in Morocco.
A statement made available to journalists said Fortescue and OCP Group, leaders in iron ore and phosphate respectively, were united in their goal to reach their emissions reductions targets.
The two firms share a common vision for the pivotal role of green hydrogen and ammonia in forging a sustainable future globally.
According to the standing, the partners have laid out plans for four cornerstone projects in Morocco, including large-scale integrated green ammonia and green fertilizer production capacity,
including renewables, energy generation, electrolysis, ammonification and fertilizer production
Other part of the plans include manufacturing of green technology and equipment; an R&D and Technology Hub to bolster the JV, the ecosystem and other players with research in renewable energy, green hydrogen and minerals processing.
The plan also encompasses 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.
Responding to the partnership, Chairman and CEO of OCP Group, Mostafa Terra 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.”
For his part, Fortescue Executive Chair and Founder, Dr Andrew Forrest 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,” he added.
The 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.
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