OCP Group Secures IFC Debt for 400 MWp Solar

• Discover how OCP Group, a Moroccan producer of phosphates and fertilisers, has secured funding from the IFC and is taking the lead on North Africa's largest solar-plus-storage project. With 200MWp of solar parks and 100MW of energy storage, OCP is aiming for carbon neutrality by 2027.

OCP Group, a Moroccan phosphates and fertiliser producer, has secured funding from the International Finance Corporation (IFC) to install 400 MWp of solar parks with batteries. This will be the largest solar-plus-storage project in North Africa and is part of a USD 13 billion programme to make OCP’s production carbon neutral by 2027. The two photovoltaic parks will be located in the mining towns of Benguerir and Khouribga and will include an energy storage system of up to 100 MW. This is the second funding round from the IFC with OCP previously receiving EUR 100 million to build four solar parks totalling 202 MWp.

What Is the Size of OCP's Carbon Neutral Programme?

• The 400 MWp solar parks with batteries are part of an overall USD 13 billion programme from OCP Group to become carbon neutral by 2027.
• The two photovoltaic parks will be located in the mining towns of Benguerir and Khouribga and will include an energy storage system of up to 100 MW.
• This initiative is the first-ever performance standard for carbon neutrality to be implemented by a private company in Morocco.
• The solar parks combined with OCP's existing initiatives will help reduce greenhouse gas emissions from its production by more than 2 million tons of CO2 equivalent.
• The solar parks and other carbon reduction measures are expected to create more than 1,000 new jobs and help reduce energy costs.
• This is the second funding round from the IFC for OCP, with the first round providing EUR 100 million for four solar parks totalling 202 MWp.