Polish Green Capital plans a significant green hydrogen project in Dakhla, marking a major step in regional renewable energy initiatives
In Short : Polish Green Capital, a renewable energy company, plans to initiate a significant green hydrogen project in Dakhla, Morocco. This venture signifies the growing global interest in green hydrogen as a clean energy solution. Green hydrogen is produced using renewable energy sources and holds great potential for decarbonizing various sectors, including transportation and industry. By investing in green hydrogen projects, companies like Polish Green Capital are contributing to a more sustainable and low-carbon future while promoting innovation in the clean energy sector.
In Detail : Green hydrogen is currently regarded as an eco-friendly alternative to oil.
Rabat : Green Capital Group, a Polish company specializing in clean energy, unveiled plans to develop a massive 8-gigawatt (GW) green hydrogen project in Dakhla over the next five years.
In an interview with Moroccan outlet Le360, Houssam Abou-Otmane, director of the Moroccan subsidiary Green Capital Group, said that the company has already identified the site location, and is in the process of finalizing the budget.
To pave the way for the project, the energy company opened a subsidiary in Casablanca in April of this year.
“Green Capital was drawn to the enormous wind and solar potential of Morocco, its business climate, and its proximity to Europe,” he told Le360.
Noting the investments required to execute the project, Abou-Otmane said that “such a project requires significant investments.”
The objective is to produce renewable electricity and sell it to industrial consumers through medium-voltage lines.
Currently, the company is targeting the regions of Tangier, the Oriental region, and Marrakech-Safi for these projects, as well as Taza, Fes, and Laayoune, particularly for wind sources.
“Green Capital is finalizing feasibility studies on the ground in these different areas before initiating the acquisition process and submitting authorization requests to the Ministry of Energy Transition. We plan to implement these projects over the next five years,” he added.
According to the interview, the investments are part of the international expansion strategy initiated by the Polish group in 2022, with green projects in Africa and Asia.
“The energy challenges resulting from the Russo-Ukrainian war in neighboring countries like Poland are prompting investors to explore other energy sources,” he explained.
In recent years, Morocco has made significant strides to accommodate investments in green hydrogen.
Converging reports highlighted the advantages of sourcing green hydrogen from Morocco, given its potential for cost-effective green fuel production.
Green hydrogen is currently regarded as an eco-friendly alternative to oil. As the global shift towards more sustainability accelerates, there is a projected exponential increase in the demand for green hydrogen.
A January report from the European Conservatives revealed that Europe is already planning substantial investments in green hydrogen and solar panel projects, primarily involving Morocco, Egypt, and southern Africa.
According to the European Conservatives, the European Investment Bank has estimated that Africa’s capacity for green hydrogen production could represent a 1 trillion-euro investment opportunity.
It is anticipated that the continent will achieve an annual green hydrogen production capacity of 50 million tonnes by 2035, offering a highly competitive price of $2 per kilogram or less.
