OCP obtains 100 million euros from the IFC to finance solar projects

The loan will allow OCP to build four solar photovoltaic (PV) plants with a combined capacity of 202 megawatts, according to converging reports. The plants will be located near the company’s mining sites in Khouribga and Benguerir. 

 The four photovoltaic plants will require a total investment of 159.2 million euros (1.7 billion dirhams). The project will be implemented in two phases, starting with a capacity of 202 MW without storage, to eventually reach 1,200 MW. 

 The first phase of the project will include the design, installation and operation of the four plants. OCP Green Energy, a subsidiary of OCP in charge of the group’s renewable energy projects, is expected to oversee this phase. 

 As for the location of the plants, OCP will install a 105-megawatt-peak power plant on a 168-hectare plot of land at the Ouled Fares site in the Khouribga mining area. At the same time, the group will install a 30 megawatts peak on 52 hectares in the site of Foum Tizi, located in the same area in Khouribga. 

Meanwhile, OCP is preparing to build two power plants on the Benguerir mining site: one of 22 megawatts-peak on 38 hectares and another of 45 megawatts-peak on 80 hectares. 

 This project is part of OCP’s ambitious plan to supply all its industrial facilities with green energy by 2027, with all electricity production coming from solar, wind, hydroelectric and cogeneration sources. 

 OCP recently launched a green investment program for the period 2023-2027 to achieve the company’s strategic objectives, in convergence with its “commitment to achieve carbon neutrality by 2040”. 

 The fertilizer giant’s new strategy builds on Morocco’s energy transition strategy in line with the high instructions of His Majesty King Mohammed VI to develop the country’s renewable energy sector.

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