Souss-Massa Green Hydrogen Corridor

The Challenge

Morocco's solar resource is among the strongest in the world, but converting that resource into exportable, storable energy requires electrolysis infrastructure and export logistics that remain capital-intensive and largely unproven at scale.

Our Approach

We entered as a minority financial partner in a consortium led by a European industrial gas group and a Moroccan state utility, focused on the project's first electrolysis phase rather than the full, more speculative export pipeline.

Impact

The first electrolysis unit reached commissioning in 2024, and offtake discussions are underway with two European steel producers seeking to decarbonise input energy. It remains early. We describe this position as a foundation, not a finished result.

Future Outlook

Further capital is earmarked for the second construction phase, subject to offtake agreements reaching financial close. We are prepared to wait for that to happen on its own timeline.