Morocco energy sector sees H2 Global Energy projects and TotalEnergies revenue growth

Swiss group H2 Global Energy is developing two preliminary green energy projects in Morocco with a potential combined value of approximately $3.6 billion. The first project, located in Béni Mellal, focuses on an off-grid solar-powered facility with a 1,300 MW electrolysis capacity. It aims to produce between 220,000 and 281,000 tonnes of green ammonia annually, with an estimated development cost of $2.5 billion and a target commissioning date of 2029.

The second project, situated in Tangier, involves a renewable hydrogen peroxide production unit. This facility is expected to produce roughly 28,000 tonnes per year, powered by 700 MW of wind and solar energy, with an estimated investment of $1.1 billion and a projected operational start in 2028.

Separately, TotalEnergies Marketing Maroc reported a significant increase in revenue for the first half of 2026, reaching 9.96 billion DH compared to 7.54 billion DH in the same period of 2025. Despite this revenue growth, driven by high international petroleum prices, sales volumes decreased by 3% to 852,000 tonnes. The company's net debt also rose to 290.6 million DH as of June 30, 2026.