Casablanca-based OCP Group SA has secured a €100 million (approximately $109.5 million at current exchange rates) loan with the International Finance Corp. (IFC) to build four solar plants to power operations at two of its mining sites, the two organizations said in an April 12 statement.
The four plants will have a combined capacity of 202-Megawatt peak (MWp) and will supply clean energy directly to the Moroccan group’s operations at Benguerir and Khouribga. The project will be implemented by OCP Green Energy SA, a wholly owned subsidiary established in October 2022 to develop the group’s renewable energy generation activities (GM Oct. 28, 2022).
The solar plants project is part of OCP’s $12.3 billion “Green Investment Program,” which aims to increase its green fertilizer production and transition its operations to green energy by 2030 (GM Dec. 9, 2022). The program will allow OCP to replace its electricity consumption with green energy, avoiding about 285,000 mt of carbon dioxide equivalent (tCO2e) annually, the group said.