COP 27: Morocco, Egypt Commit to Foster Climate Cooperation
To create cooperative environmental research initiatives and promote information transfer on climate change and sustainable development, Morocco and Egypt have signed a memorandum of understanding (MoU) on the margins of the UN Climate Change Conference (COP 27).
The MoU asks for fostering environmental innovation, waste management, and energy transition in both nations. Additionally, it improves coastal management, biodiversity conservation, and ecosystem restoration.
Leila Benali, the Moroccan minister of energy transition and sustainable development, and Yasmine Fouad, the Egyptian minister of the environment, signed the agreement on November 9 in Sharm El Sheikh, Egypt, reaffirming the commitments of Rabat and Cairo to green transition and sustainable development.
Leading African proponents of the green transition include Morocco and Egypt. The two nations are well-positioned to produce affordable green hydrogen and are poised to accelerate the decarbonization of their energy systems thanks to the development of their renewable energy infrastructures.
Notably, Egypt intends to get 42% of its power from renewable sources, and Morocco is working to meet its 50% target by 2030.
Together with Mauritania, Kenya, Namibia, and South Africa, the two nations rekindled their interest in creating a pipeline of green hydrogen projects this year by establishing the Africa Green Hydrogen Alliance.
The program advocates for enacting legal and policy changes, developing local skills, and stimulating investments in green hydrogen products to satisfy domestic demands. Its goal is to expand regional access to inexpensive renewable energies.
Rabat and Cairo are attempting to raise capital for their upcoming green hydrogen projects in addition to fostering technological collaboration.
According to DFI Intelligence, Egypt has received investments totaling more than $100 billion in green hydrogen ahead of COP 27.
About 70% of the investments are made by foreign companies, including the UAE’s Alcazar Energy, India’s Acme Group, and Australia’s Fortescue Future Industries (FFI).
Morocco recently started pilot projects to investigate the feasibility of expanding green hydrogen and green ammonia plants throughout the nation.
The initiatives are built on creating cross-border alliances with the aid of regional players like Mohammed VI Polytechnic University (UM6P), OCP Group, and Gaia Energy as well as international organizations like Chariot Limited, Oort Energy, and H2Pro.
Morocco’s green hydrogen industry is still in its early phases, but various assessments have noted that the nation has the potential to become a significant hydrogen exporter.
Recently, the global conglomerates Adani Group from India and ACWA Power from Saudi Arabia both announced ambitions to invest in Morocco’s developing green hydrogen infrastructure. Additionally, Germany committed to provide €38 million (MAD 408 million) to aid in the development of the nation’s first green hydrogen plant.