republic of Korea is the latest to join international investors eying Morocco’s green hydrogen economy, following the North African Kingdom’s ambitious plan aiming to produce up to 4% of the global demand of green hydrogen.
“If Morocco is able to produce hydrogen, using its renewable energy technology, then Korea will be an excellent model of cooperation,” republic of Korea’s Ambassador to Morocco Chung Keeyong said in an interview with a team of Hespress journalists.
His country is aiming to generate 6.2 million units of fuel cell electric vehicles and create 1,200 refilling stations by 2040, pushing for a leadership role in hydrogen technology, as worldwide nations race to produce emission-free products to curb growing threats of climate change.
“I am thinking of bringing some hydrogen people, namely academia, companies and associations to Morocco and have discussions with their Moroccan counterparts,” he said.
Morocco held similar talks with Chilean, German and Portuguese stakeholders as well as international energy bodies, including the International Renewable Energy Agency (IRENA).
Latest talks with Ireland-based electrolyzer company Fusion Fuel and Greece-based Consolidated Contractors Company (CCC) crystallized in the signing of a USD850 million green hydrogen-powered ammonia project in Morocco.
The project is expected to produce 183,000 tonnes of green ammonia by 2026, with a production capacity of 31,000 tonnes of green hydrogen a year, supplied by Fusion Fuel’s solar-to-hydrogen generators.
The Kingdom’s favorable climatic conditions and previous investments in renewables are largely seen as a competitive force within a global framework marked by the need to limit fossil fuel emissions and shift to energy-friendly goals.
Beyond energy, the Ambassador said his country is also seeking to conduct vaccine trials in Morocco, following the Republic of Korea’s plans to produce domestic vaccines.
“Korea is now developing its own vaccine but the big issue for us is the lack of patients needed for the trials, so maybe Morocco and Korea can cooperate in vaccine development at the trial stage,” he said, without giving further details.
Republic of Korea President Moon Jae-in recently said his country plans to invest USD1.9 billion to become one of the world’s largest COVID-19 vaccine producers by 2025.
Climate change, health sector, and science and technology are the three sectors that are particularly attractive for Korean investors,” said the Ambassador, adding that Morocco’s strategic position as Africa’s gateway could aid his country in reaching African markets.
“We are also happy to note that Morocco is diversifying its external partners (…) Morocco is investing quite heavily within Africa. It is important in the sense that Morocco could act as a gateway to the African continent for non-regional partners like Korea,” he added.
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