The Dutch impact fund Invest International is offering a loan secured by Atradius to finance the development of a green ammonia and hydrogen production facility in Morocco, which aims to become a significant producer of renewable energy.
Proton Ventures, an engineering, procurement, and construction company established in Rotterdam that specializes in manufacturing ammonia from renewable energy sources, will build the plant in the port of Jorf Lasfar, west of Casablanca.
The agreement was inked on July 19, and the loan would be used to assist Proton Ventures with its working capital needs. Working capital is guaranteed by the Dutch export credit agency Atradius DSB.
The plant is intended to produce four tonnes per day of green ammonia and will be equipped with two electrolysers with a capacity of 2MW each, powered by solar and wind energy, for the creation of hydrogen.
Morocco is an ideal location for large-scale hydrogen generation since it has an abundance of wind, sun, and terrain, which Northern Europe lacks.
In particular sectors, such as industrial activity and heavy-duty or long-distance transportation, green hydrogen – created from renewable electricity – has been proposed as a possible replacement for fossil gas.
Atradius DSB views the transaction as a chance to strengthen trade links between the two countries.