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INNOVX business HydroJeel will receive a €30m grant for the Jorf Hydrogen Platform KfW and KGAL have awarded a €30m grant to a Moroccan green hydrogen project. The PtX Development Fund has been set up to promote hydrogen projects in developing and emerging economies and HydroJeels Jorf Hydrogen Platform project is the beneficiary of the fund’s second grant (picture of grant signing). HydroJeel, a business of INNOVX, is developing the the project at the port of Jorf-El Jadida, on behalf of OCP Group. Jorf Hydrogen Platform aims to produce 100,000 tons of green ammonia per year by the end of 2026. The project will entail construction of new wind and solar plants to produce green hydrogen within the plant, which will then be transformed into green ammonia for use in fertiliser production. KGAL Investment Management, the fund manager mandated by KfW, had reviewed a total of 98 expressions of interest from seven countries in the second call for expressions of interest, which is expected to close on 5 March. The grant agreement with HydroJeel was officially signed on 12 February in Casablanca in the presence of Robert Dolger Ambassador of Germany in the Kingdom of Morocco and Jochen Flasbarth, State Secretay of German Federal Ministry of Economic Cooperation and Development (via video), Amine Houssaim, CEO of HydroJeel and INNOVX as well as representatives of the KfW office in Rabat and executives from the bank’s headquarters. The PtX Development Fund, initiated by the BMZ and endowed with €270m, is part of KfW’s PtX Platform for promoting hydrogen projects in the global south. It will provide the Jorf Hydrogen Platform with a €30m non-refundable grant. “The Jorf Hydrogen Platform project impresses with a solid concept from an innovative project developer. “HydroJeel will use state-of-the-art methods and all the risks – from development to offtake – have been considerably minimised,” said Thomas Engelmann, Managing Director of the PtX Development Fund and Head of Energy Transition at KGAL. |
