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Morocco has signed an 8 billion Moroccan dirham ($861 million) investment agreement with GPM Holding SA to establish the country’s first polysilicon manufacturing plant in the southern province of Tan-Tan, the Ministry of Investment, Convergence and the Evaluation of Public Policies announced on Sunday.
The facility, to be located in the El Ouatia industrial zone, will have an annual production capacity of 30,000 tonnes, with 85 percent earmarked for export, according to the ministry.
The plant is expected to generate 1,500 direct and more than 2,000 indirect jobs, and strengthen Morocco’s position in renewable energy supply chains, particularly in the manufacturing of solar-panel components, it added.
Local French language newspaper Le Matin reported on Monday that the agreement was signed by Karim Zidane, Minister of Investment, Convergence and the Evaluation of Public Policies, and Philip Jenkins, CEO of GPM Holding.
In August 2022, UAE-based renewable energy company AMEA Power had announced that GreenPower Morocco 1, its joint venture of GPM Holding, had commenced construction of a 34 megawatt (MW) solar photovoltaic power plant in Hjar Nhal, south of Tangier, under a corporate Power Purchase Agreement (PPA).
(Writing by N Saeed; Editing by Anoop Menon)
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