Morocco said Wednesday it plans to launch a green hydrogen project next year amid a growing global demand for clean energy.
Green hydrogen is a sustainable and environmentally friendly form of energy produced through the electrolysis of water using renewable energy sources such as wind or solar power.
In a statement, the government said it seeks to finalize the ‘Morocco Offer’ green hydrogen project in 2024 to put it for investors.
The statement, however, did not provide any further details about the planned project.
In July, King Mohammed VI urged the government to accelerate measures to implement the planned project.
‘I invite the government to speed up the implementation of this project, to make sure the requirements of quality are observed, to leverage our country’s significant potential in this regard, and to meet the expectations of leading global investors in this promising field,’ he said.
Morocco seeks to increase the share of renewable energy for electricity production from 60% by 2040 to 70% by 2050.
By 2050, revenues from clean hydrogen are expected to exceed $280 billion.
