Fortescue unveils big plans for green H2 production in Morocco

Australia’s Fortescue Ltd (ASX:FMG) has set up a joint venture (JV) with OCP Group in Morocco to work on a project that will create a large-scale renewable energy, green hydrogen and ammonia production hub in the North African country.

The parties will seek to supply green hydrogen, ammonia and fertilisers to Morocco, Europe and other international markets, the Aussie iron ore and green energy giant said on Monday.

Do you know we have a daily hydrogen newsletter? Subscribe here for free!

The equal partnership with Morocco-based OCP, a plant nutrition and phosphate-based fertilisers producer, has four main pillars, envisaging both manufacturing and research initiatives.

While the exact scale of the proposal was not specified, the duo will install large-scale capacity to produce green ammonia and green fertilisers, as well as renewable power plants to deliver electricity for those processes. The plan also calls for the production of green technology and equipment and the setting up of a technology hub near Marrakech to conduct research and development (R&D) related to renewable energy, green hydrogen and minerals processing.

Fortescue and OCP also plan a “collaboration of corporate venture capital funds to drive investment in key technology advancements.”

"Together, we will be a key originator and green corridor into Europe and to and from the Atlantic basin,” said Andrew Forrest, Fortescue’s executive chair and founder.

The JV deal is pending regulatory clearance. It was announced just after Fortescue officially opened a 2-GW production facility for electrolyser stacks in Queensland, Australia.