OCP Group, a global leader in plant nutrition and phosphate-based fertilisers, and Fortescue Energy, a part of the global green energy, metals, and technology company Fortescue Ltd (Fortescue), have unveiled a groundbreaking Joint Venture (JV) in Morocco. This partnership, characterised by equality, aims to provide green hydrogen, ammonia, and fertilisers to Morocco, Europe, and international markets. It also encompasses the potential establishment of manufacturing facilities and an R&D hub to propel the burgeoning renewable energy industry in Morocco forward.

Fortescue and OCP Group, renowned in iron ore and phosphate, respectively, are aligned in their pursuit of meeting emissions reduction targets. They share a unified vision regarding the pivotal role of green hydrogen and ammonia in shaping a sustainable future on a global scale.

The partners have outlined plans for four foundational projects in Morocco:

  1. Large-scale integrated production capacity for green ammonia and green fertilisers, incorporating renewables, energy generation, electrolysis, ammonification, and fertiliser production;
  2. Production of green technology and equipment;
  3. An R&D and Technology Hub, situated alongside Mohammed VI Polytechnic University (UM6P) near Marrakech, aimed at reinforcing the JV, the ecosystem, and other stakeholders, with research in renewable energy, green hydrogen, and minerals processing; and
  4. Collaboration on corporate venture capital funds to drive investment in key technological advancements.

The primary objective of the partners is to supply green hydrogen and ammonia for use as sources of green energy and in the production of carbon-neutral and tailored fertilisers that are accessible and cost-effective for farmers worldwide.

Mostafa Terrab, chairman and CEO of OCP Group, remarked, “Our strategic partnership with Fortescue is a testament to our joint commitment to decarbonisation as we develop state-of-the-art facilities and deliver competitive renewable energy, products, and technology. This marks a significant step towards realising our vision of simultaneously ensuring global food security and combating climate change.”

Dr Andrew Forrest AO, Fortescue executive chair and founder, stated, “Together, Fortescue and OCP will establish a world-leading and globally competitive platform to support Morocco’s transition into a green energy production, manufacturing, and industrial hub. Morocco will play a key role in the global energy transition, given its abundant wind and solar resources, extensive coastlines, and 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.”

Mark Hutchinson, Fortescue Energy CEO, added, “OCP and Fortescue are fully aligned in their ambitions. We aim to establish in Morocco one of the world’s leading integrated renewable energy, manufacturing, and technology enterprises, catering not only to a large and growing domestic market for green products but also potentially supplying other countries and continents. This is a pivotal moment for Fortescue, OCP Group, and Morocco as we revolutionise the way we power our planet, diversify the world’s future energy security, and create thousands of jobs and industries in Morocco.”

These proposed projects will also leverage the expertise of INNOVX, a multi-sectoral venture platform dedicated to building innovative and sustainable businesses and contributing to the creation of emerging ecosystems with a significant local impact.

The agreement underscores OCP Group’s and Fortescue’s shared vision to facilitate Morocco’s transformation into a green energy production, manufacturing, and industrial powerhouse, with substantial long-term benefits for Morocco.

The venture is subject to customary closing conditions, including regulatory approvals.

For more information visit www.fortescue.com

17th April 2024