Gautam Adani, Asia’s richest man, is in preliminary talks with Morocco over a massive renewable energy project to deliver electricity and emissions-free fuel to Europe.
According to experts familiar with the projects, who sought anonymity to discuss private information, Adani’s coal-to-ports company is exploring developing wind and solar production units in the North African country and facilities to manufacture green hydrogen for export.
The discussed project would be Adani’s largest clean power development project outside India, estimated to be as large as 10 gigawatts, according to experts.
In comparison, the project would be almost equal to Morocco’s existing installed energy generation capacity, which includes approximately 2.8 gigawatts of wind and solar.
According to one of the reports, the project would be completed in two parts, each of which will be 5 gigawatts.
Moreover, the Indian billionaire is also in talks with Morocco’s state-owned OCP Group about selling hydrogen, which the fertilizer company could use as feedstock to produce carbon-free ammonia.
Adani Green’s shares rose 3.6% this week, the highest in two months, outperforming the benchmark index’s 2.4% gain.
Given the technology’s state of progress, it could take years before any green hydrogen is exported to Europe.
ReNew Energy Global, based in India, struck an initial agreement in July to build an $8 billion green hydrogen plant in Egypt.
In the same context of agreements and projects, the Xlinks Morocco-UK Power Project is planned to build 10.5 GW of renewable energy, 20 GWh of battery storage, and a 3.6 GW high-voltage direct current interconnector from Morocco to the United Kingdom, pushing Morocco to be the second biggest Arab country to rise in solar and wind capacity.