Green Hydrogen Supply-Chain Enablement: Component & Services Supplier to Moroccan Electrolyser Projects

Morocco is experiencing a sustained foreign investment boom, with net FDI reaching €1.55 billion in the first seven months of 2025 alone — a 25.6% year-on-year jump — following a 63.6% surge in Q1 2025 versus Q1 2024. The country has approved $32.5 billion in green hydrogen mega-projects and is doubling its power capacity ahead of co-hosting the 2030 FIFA World Cup alongside Spain and Portugal. The EU and Morocco approved a revised trade liberalisation agreement in October 2025, while Morocco's National Green Hydrogen Roadmap targets 4% of the global market by 2050. Tourism hit a record 19.8 million visitors in 2025 (+14% YoY), generating ~$13.5 billion in revenue and cementing Morocco's position as Africa's top tourist destination. The country's updated 2022 Investment Charter, geographic and sectoral investment bonuses, and proximity to European markets continue to underpin its 'gateway to Africa' positioning.

Morocco has approved $32.5 billion in green hydrogen projects targeting ammonia, steel, and industrial fuel production, with key international players including Acciona, Nordex, UAE TAQA, and Ortus already engaged. ONEE secured international funding in 2025 to modernise transmission infrastructure, and Morocco is offering up to 30,000 hectares of land per project to attract suppliers across the value chain.

Market drivers:

- Morocco's National Green Hydrogen Roadmap targets 4% of global market by 2050, with state-owned OCP SA planning 3 million tons of green ammonia annually by 2027

- 2030 FIFA World Cup co-hosting mandate is accelerating renewable energy deployment, with over 2,000 MW of renewable projects already authorised under the current government

- Revised EU-Morocco trade liberalisation agreement approved October 2025, improving export access for green energy derivatives to European markets

Risks:

- Long project gestation cycles and permitting complexity under MASEN's multi-stage evaluation process may delay revenue generation

- US 10% tariff imposed April 2025 and broader geopolitical volatility could dampen demand for Moroccan exports in some corridors