Skip to content Skip to Search
Skip navigation

Moroccan-French venture to build $2bn green hydrogen plant

By Pramod Kumar
Hydrogen power: Abu Dhabi hopes that a carbon certification scheme for hydrogen it plans to lead will be adopted globally Reuters/Denis Balibouse
The White Dunes project seeks to produce 10 gigawatts (GW) in wind energy, 7 GW in photovoltaic energy and 8 GW in electrolysis

Morocco-headquartered Falcon Capital Dakhla and France’s HDF Energy have signed a deal to build a $2 billion green hydrogen production plant in the Moroccan coastal region of Dakhla.

The White Dunes project seeks to produce 10 gigawatts (GW) in wind energy, 7 GW in photovoltaic energy and 8 GW in electrolysis.

“We have devoted nearly two full years to feasibility studies, preliminary project design, and phased planning across a projected area of 150,000 hectares,” Majid Slimani, founder and president of Falcon Capital Dakhla.

Morocco’s government inNOvember 2022 announced plans to reduce energy costs for factories by 20-30 percent through a combined strategy of investing in renewable energy and the decarbonisation of industries. 

Morocco has set ambitious targets of generating 52 percent of its energy needs from renewables by 2030 – comprised of 20 percent solar, 20 percent wind and 12 percent hydro. It has also set a target of 80 percent renewables by 2050. 

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]

Car, Transportation, Vehicle

Dubai Taxi to pay $43m dividend despite profit drop

Dubai Taxi Company, a subsidiary of the emirate’s transport regulator, has approved a dividend payout of AED159 million ($43 million) for the first half of 2024 despite a marginal 1 percent increase in net profit. Net earnings reached AED187.4 million in the first six months of the year, compared to AED186.3 million at the same […]