Morocco leads renewables, now targeting green hydrogen
Israeli companies are looking for renewable energy opportunities in Morocco | Israel’s Marom Energy acquired 30% of Morocco’s Gaia Energy
Morocco became one of the leading countries in the world in producing renewable energy.
The Israeli group Gandyr’s investment, through its subsidiary Marom, acquired last March 30% of the Moroccan company Gaia Energy for approx. $22M. On top of its large scale renewable energy projects in Morocco and other African countries, Gaia is advancing three green hydrogen projects in Morocco with the capacity of 35 GW.
Morocco and Israel formally normalized ties in December 2020 and in February 2022 they signed a trade and economic cooperation agreement to facilitate investments.
Israel is targeting annual trade volume of $500 million with Morocco, up from $131 million currently, as the two countries look to broaden cooperation.
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