Morocco bids to become solar panel exporter with $800m plant

A Moroccan company intends to invest nearly MD8 billion ($800 million) in a project to build a polysilicon plant in the country.

Tangiers-based Greenpower Morocco signed a contract with the investment ministry this week for the construction of the facility in the southern Tantan city.

Polysilcon is used in the solar photovoltaic industry to make solar cells and officials hope the project will turn Morocco into a major solar panel exporter.

The plant will have a production capacity of 30,000 tonnes per year, of which 85 percent will be exported to countries in Africa and other foreign markets, the ministry said, adding that the project will create 1,500 direct jobs and 2,000 indirect jobs.

“This promising investment will contribute to consolidating Morocco’s leadership in the field of renewable energies, and the development of its associated industrial value chains, especially in relation to the manufacturing of solar panel components, strengthening the kingdom’s position as a key factor in the global energy transformation path,” the ministry said in a statement on its website.

Morocco has been locked in a drive to attract foreign capital into manufacturing and other sectors, including tourism and renewable energy.

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Earlier this month, a study by the Rabat-based Imal Initiative for Climate and Development said Morocco could develop a $31 billion solar market.

Energy transition minister Leila Benali said in July Morocco needs to invest $40 billion to achieve its energy goals, including $20 billion in renewable energy and associated industries, and a similar sum in the interconnection between Africa and Europe.

Morocco has embarked on a massive infrastructure development scheme in preparation for the 2030 Fifa World Cup, which it co-hosts with Spain and Portugal. It has approved investment of more than $40 billion.