Rabat -Morocco is poised to emerge as a key player in the production of green hydrogen, according to a recent report by Deloitte titled “Green hydrogen: Energizing the path to net zero. Deloitte’s 2023 global green hydrogen outlook.”
The report highlights Morocco’s favorable position, citing its exceptional “solar and wind resources,” which align well with a highly competitive large-scale production industry.
This advantageous combination, along with its “proximity to the European Union,” positions Morocco as a prime candidate for significant green hydrogen production.
Deloitte’s report identifies Morocco as one of the countries with the most potential to export green hydrogen, placing it alongside Chile, Saudi Arabia, Spain, the United Kingdom, and Japan, which occupy different positions on the importer-exporter spectrum.
The report further projects that the global hydrogen market will generate over $280 billion in annual export revenues by 2050, with North Africa expected to benefit the most, reaching $110 billion per year due to its strong export potential.
With growing support for clean hydrogen as a reliable and sustainable energy source, the report predicts that the market value of hydrogen trade will surpass that of liquid natural gas by 2030 and continue to grow, reaching an estimated $1.4 trillion per year by 2050.
Deloitte Global CEO Joe Ucuzoglu said, “Deloitte’s research demonstrates how clean hydrogen can help tackle decarbonization of some of the world’s most emissions intensive and hardest-to-abate sectors, further mitigating the effects of climate change while fueling economic growth, particularly in developing countries.”
Earlier this year, a report from German outlet Tagesschau highlighted Morocco’s assets in the field of green hydrogen, noting that the country is set to supply Germany with green hydrogen in the future and is considered “a pioneer of green energy in Africa.”
Read Also: German Press Commends Moroccan Green Hydrogen Capabilities
Morocco has set ambitious targets to enhance its renewable energy capacity. The country aims to achieve a renewable energy share of 52% of its total installed capacity by 2030.
Additionally, Morocco plans to further elevate the renewable energy contribution to 70% by 2040 and ultimately reach 80% by 2050 in its electricity mix, focusing on both energy generation and capacity aspects.
By 2050, Morocco plans to significantly reduce its reliance on conventional thermal power stations, such as those fueled by coal, natural gas, and fuel oil. Instead, the country aims to embrace smart grid technologies for energy storage and demand management, with the ultimate goal of partial decarbonization of its energy mix during the same period.
