Rabat – Indian businessman Gautam Adani is currently holding exploratory talks with Moroccan authorities to develop solar and wind projects, aiming to contribute to Europe’s supply of electricity and green hydrogen.
Citing sources “familiar with the proposals,” American business-focused magazine Bloomberg reported on Friday that the discussed 10 gigawatts solar and wind projects would be Adani’s largest clear power development outside India.
Data from BloombergNEF revealed that the company plans to produce green hydrogen with the support of locally generated solar and wind power. Forecasts estimate that the generated power capacity would equal Morocco’s existing installed energy generation capacity.
Bloomberg’s sources say that the project would be developed in two stages with five gigawatts each, adding that the generated power is expected to meet local and European demand for power and green hydrogen.
In addition to investing in Morocco, Adani Group plans to capitalize on the MENA’s potential as one of the world’s largest green hydrogen hubs.
Through its renewables-focused company, Adani aims to develop renewable energy projects with a total capacity of 25 gigawatts by 2025 in an effort to become the world’s largest producer of clean power by the end of the decade.
However, despite its push for green energy, the group is likely to maintain and even expand its fossil fuels portfolio, Bloomberg argued.
Morocco’s potential to produce the world’s third-cheapest green hydrogen continues to attract the interest of multinational companies and organizations, including Bloomberg Philanthropies which has committed to advancing the energy transition in Morocco.
In September, billionaire and Special Envoy to the UN Secretary-General on Climate Ambition and Solutions Michael Bloomberg announced the selection of Morocco as a beneficiary for the Global Clean Energy Transition Program which aims to support the decarbonization agenda in developing countries with a special focus on Africa.
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