The OCP Group, a global leader in the phosphate fertilizer market, and the French Development Agency (AFD) announced the signing of two financing agreements totaling $350 million (equivalent to 13 billion dirhams) as part of support for the Moroccan group’s green investment program for the period from 2023 to 2027.
This ambitious program aims to enable OCP to utilize 100% renewable energy and non-conventional water in its industrial operations by 2027, with a goal of achieving complete carbon neutrality across its production chain by 2040. The program also includes the development of capabilities for the production of green hydrogen and ammonia, as well as integrating climate and biodiversity indicators into corporate risk management.
In this context, the two parties also signed a financing agreement for the Mava platform to support agricultural production chains in Africa, in partnership with INNOVX. This platform aims to mobilize and finance innovative initiatives and start-ups to foster more sustainable and efficient food production systems across the continent.
Through these agreements, the partners aim to reinforce their joint commitment to developing inclusive and sustainable agriculture, ensuring the production of green fertilizers specifically designed to suit various types of soil and climates; in addition to supporting farmers, particularly in Africa, with access to financing and markets, and promoting precision and innovative agricultural practices.
It is noteworthy that OCP has allocated a total investment of around $13 billion between 2023 and 2027, as part of its strategy to transition to green energy. These investments include projects for water desalination with a capacity of up to 560 million cubic meters annually, enabling the group to achieve water self-sufficiency and rely 100% on renewable energy in its operations.
As for the French Development Agency, active in over 160 countries, it seeks through this partnership to support a just and secure transition to a sustainable economy, through developmental projects addressing areas such as climate, biodiversity, global health, and gender equality.
