Moroccan fertiliser producer locks IFC debt for 400 MWp of solar

Morocco-based phosphates and fertiliser producer OCP Group will receive debt funding from the International Finance Corporation (IFC) to install 400 MWp of solar parks with batteries in an effort to cut the carbon footprint of its operations.

OCP has clinched a deal for a EUR-100-million (USD 106m) from the World Bank’s investment arm, the state-owned manufacturer said on Tuesday. Under the plan, it will allocate the proceeds to build two photovoltaic (PV) parks to supply its production in the mining towns of Benguerir and Khouribga where the world’s largest phosphate reserves are located.

The solar farms will be equipped with battery energy storage systems of up to 100 MW, thus creating the first large-scale solar-plus-storage project in Morocco and the largest one of its kind in North Africa.

OCP is pursuing a goal to use 100% renewable power in its fertilizer production by 2027. The company is currently working on a USD-13-billion programme to green its manufacturing, which includes a plan for adding 1.2 GWp of fresh photovoltaic (PV) generation capacity. Earlier this year, OCP secured EUR 100 million from the IFC to build four solar parks totalling 202 MWp as part of the initiative.

(EUR 1.0 = USD 1.060)

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