Chariot’s new partnership agreements with Mohammed VI Polytechnic University (UM6P) and Oort Energy hold promise for adding value to Morocco's fertiliser industry, says SP Angel, though it adds the project remains in its early stages.
These agreements centre on the creation, operation, and commissioning of a pilot electrolyser project utilizing a 1MW polymer electrolyte membrane (PEM) system developed by Oort.
The pilot project will be hosted at UM6P's research facility in OCP Jorf Lasfar, the world's largest fertiliser complex.
SP Angel adds that while much of the market’s attention is on Chariot’s offshore Morocco Anchois gas development project (75% WI), the renewable and hydrogen projects are at an earlier stage of development and the company is evaluating project finance and investment options ahead of any significant capital requirement.
Recent cost inflation and global interest rate rises have put increasing pressure on the availability of funding and deteriorating economics of proposed renewable energy projects, as highlighted in the past week by BP and Vattenfall.