Rabat, Morocco - August 21, 2026: The Japanese conglomerate Mitsui is poised to broaden its investments in Morocco's energy sector, capitalizing on the burgeoning opportunities linked to renewable energy, green hydrogen, and ammonia. This strategic move comes at a time when Morocco is reinforcing its position as one of Africa's most significant markets for energy transition projects.
This initiative is not a foray into the Moroccan market but rather a strategic pivot of Mitsui’s portfolio towards the opportunities created by the transformation in the country’s energy mix, following over a decade of its presence in the electricity sector.
Mitsui perceives Morocco as a market rich with investment attractiveness, highlighted by its political and financial stability, abundant solar and wind resources, and a geographic location that facilitates access to European markets.
According to data provided by the Japan External Trade Organization (JETRO), based on statements from Mitsui officials in Morocco, the group plans to continue exploring new opportunities in electricity generation projects, with a growing emphasis on clean energy sources.
Morocco: A Growing Market for Clean Energy
Mitsui’s investment ambitions align with Morocco’s goal of increasing the share of renewable energy to over 52% of total installed electrical capacity by 2030, with indications suggesting that this target could be achieved ahead of schedule.
As of April 2025, the renewable energy capacity in Morocco reached approximately 5.5 gigawatts, representing nearly 46% of the total installed capacity of around 12 gigawatts. These figures enhance the market's appeal to investors, particularly given Morocco’s diverse renewable energy resources, which include solar, wind, thermal solar, and hydropower.
The investment advantages extend beyond natural resources; Morocco boasts a network of institutions, research centers, and universities capable of supporting the development of clean energy projects, alongside its proximity to the European market.
This geographical positioning offers Moroccan projects the opportunity to target local demand while also enabling the development of future energy production and derivatives aimed at international markets.
Mitsui's Decade-Long Presence in Morocco
Mitsui's engagement in Morocco's energy sector began in 2011 when the group participated in the Jorf Lasfar thermal power station project as an engineering, procurement, and construction contractor.
Over the years, the company has transitioned from being a contractor to making direct investments in major energy projects, notably the Safi thermal power station and the Taza wind power project.
At the Safi station, Mitsui partnered with the Moroccan group Nareva and the French company Engie in a project that cost around $2.6 billion. The station has an output capacity of about 1400 megawatts and became operational in 2018, positioning itself as one of the key facilities in Morocco's electricity production framework.
The plant utilizes ultra-supercritical technology, which enhances the efficiency of converting coal into electricity while simultaneously reducing emissions per unit of electricity produced compared to traditional technologies. Mitsui describes this project as the first of its kind in Africa to adopt such technology.
However, the company's trajectory in Morocco has not been limited to conventional generation projects; it has subsequently sought to expand its portfolio in the renewable energy sector.
The Taza wind power project exemplifies this transformation in Mitsui’s Moroccan portfolio. Developed in partnership with French company EDF Power Solutions, the project has a total capacity of approximately 87.2 megawatts and an investment close to 140 million euros.
Mitsui holds a 40% stake in the project, while the French partner retains 60%. Construction of the Taza plant commenced in September 2020, and it became operational in 2022 under a long-term contract to supply electricity to the National Office of Electricity and Drinking Water.
According to Mitsui, its share of the project's net capacity reached approximately 35 megawatts by the end of March 2026, compared to about 462 megawatts from its stake in the Safi plant. These figures highlight the scale of Mitsui’s existing portfolio in Morocco while simultaneously reflecting the increasing importance of renewable energy within its future strategy.
For Mitsui, the Moroccan energy transition is particularly significant due to the country's energy system's unique characteristics; Morocco relies on external imports to cover a substantial portion of its fossil fuel needs, while possessing considerable natural resources that can be harnessed to generate clean electricity.
Mitsui recognizes that the Moroccan government's commitment to increasing the share of renewable energy creates a favorable environment for investors, especially with the roles played by institutions such as the National Office of Electricity and Drinking Water and the Moroccan Agency for Sustainable Energy (MASEN) in project development and implementation.
The future focus is not limited to electricity generation from solar and wind sources; Morocco’s expansion into green hydrogen and ammonia presents new avenues for international companies eager to invest in the clean energy value chain. This journey is further underscored by Morocco's proximity to Europe, potentially positioning the country as a future hub for energy production and its derivatives for export to international markets.
As Mitsui expands its wind projects, the group places production risks at the core of its investment evaluation process, recognizing that the economic returns of these projects are directly linked to the amount of electricity generated by wind turbines. To mitigate this, the company relies on available wind data during bidding phases and conducts independent site assessments before investment, in addition to employing maintenance contracts and performance guarantees with turbine manufacturers to reduce production risks and ensure operational stability.
In conclusion, Mitsui’s strategy in Morocco appears geared towards establishing a long-term presence in the new energy market, built on over a decade of experience while gradually shifting from traditional generation projects to renewable energy, all while monitoring the opportunities that the rise of green hydrogen and ammonia may present. As Morocco accelerates its plans to reshape its energy mix, the Japanese group bets that the next phase will not only be an expansion in clean electricity production but will also unlock a broader market for energy projects and their derivatives directed at both the local economy and international markets.
As reported by solarabic.com.
