What is ACWA Power & gotion high-tech doing in Morocco?

The project includes a 500-megawatt (MW) wind power plant paired with a 2,000 megawatt-hour (MWh) energy storage system Acwa Power has partnered with Gotion High-Tech’s Moroccan subsidiary to launch an $800 million wind power project, aiming to drive Morocco’s electric vehicle (EV) battery production forward.

How many jobs will Morocco's new EV battery plant create?

The facility is expected to create 17,000 direct and indirect jobs, including 2,300 highly skilled positions, and export roughly 85% of its output, strengthening Morocco’s role as an emerging EV battery production hub.

How much does gotion Power Invest in Morocco?

The total investment is estimated at CNY19.1 billion ($2.63 billion). The Moroccan project, led by Gotion’s wholly-owned subsidiary Gotion Power Morocco S.A., will be located in the Rabat region.

What is gotion power Morocco?

The Moroccan project, led by Gotion’s wholly-owned subsidiary Gotion Power Morocco S.A., will be located in the Rabat region. Designed for phased development over five years, it aims to integrate battery cell production with a localized raw material supply chain, leveraging Morocco’s strategic industrial base and regional advantages.

Why is gotion high-tech investing in Morocco?

Gotion High-Tech noted that the Kenitra plant is only the beginning of its long-term investment in Morocco, as the company sees ample growth opportunities in the region’s renewable energy and EV sectors. Gotion and Acwa’s collaboration highlights Morocco’s commitment to becoming a global leader in clean technology.

Will Morocco become a global leader in green technology?

Gotion and Acwa’s collaboration highlights Morocco’s commitment to becoming a global leader in clean technology. The new gigafactory aligns with Morocco’s broader objective of attracting high-value investments, aimed at creating 500,000 jobs and securing $50 billion in green technology investments by 2026.