Several Indian firms are interested in capitalizing on Morocco’s renewable energy potential.
Rabat : Several Indian energy companies, including ReNew Energy Global and Engineers India, have expressed interest in exploring new hydrogen opportunities and energy projects in Africa and the Middle East, including Morocco.
In an interview with Bloomberg, ReNew Energy’s chairman Sumant Sinha said that his firm is “studying prospects to make green hydrogen and methanol” in Morocco.
Thanks to its growing and promising renewable energy market, Morocco became a hotspot for energy-focused companies interested in expanding into Africa and the MENA region.
In October last year, Indian businessman Gautam Adani, CEO of Adani Group, discussed with Moroccan authorities the possibility of developing solar and wind projects, with the aim of meeting Europe’s growing demand for electricity and green hydrogen.
The American magazine indicated that the 10 gigawatts solar and wind projects would be the Indian firm’s largest clear power development outside the South Asian country.
Besides Morocco, the Indian energy-focused company ReNew Energy is interested in exploring opportunities for hydrogen and methanol production in Oman and Saudi Arabia.
The Indian firm is also set to complete feasibility studies on an $8 billion (MAD 81 billion) green hydrogen project in Egypt.
In addition, Engineers India is set to finalize a nearly $25 million (MAD 255 million) order for a chemicals and fertilizer plant in Nigeria, according to Bloomberg.
The company is also considering taking part in oil refining projects across the African continent, Engineers India Chairperson Vartika Shukla indicated in an interview with Bloomberg.
Considering Africa’s large green hydrogen capacity, Europe is eying the continent as a future “source of cheap and sustainable energy,” a report from the European Conservatives indicated.
The report noted that Europe is planning large investments into solar panels and green hydrogen in Egypt, Southern Africa, and Morocco, which is considered the “nearest” and “cheapest” source of green energy.
Source: moroccoworldnews
