Assahafa.com
Saudi energy giant Acwa Power, a global leader in desalination and renewable energy, has partnered with the Moroccan subsidiary of the Sino-European group Gotion Power Morocco.
Together, they will build a $800 million, 500-megawatt (MW) wind power plant with a 2,000-megawatt-hour (MWh) energy storage solution to power Gotion High-Tech’s upcoming electric vehicle (EV) battery gigafactory in Kenitra, Morocco.
With a planned capacity of 20 gigawatt-hours (GWh), the battery production facility is part of a larger $1.8 billion suite of partnerships signed by Acwa Power on the sidelines of the 8th Future Investment Initiative (FII8) held in Riyadh from October 29 to 31.
Acwa Power has secured agreements worth over $1.78 billion, encompassing renewable energy, battery storage, and R&D initiatives across Gulf nations, China, Central Asia, and North Africa, according to Saudi state news agency (SPA).
These agreements include a $690 million financing deal with the National Bank of Kuwait and a $402 million Sharia-compliant loan from the International Finance Corporation to support solar energy projects in Uzbekistan.
Construction on Gotion High-Tech’s ambitious project is set to begin in June 2026, representing a $1.24 billion investment.
The gigafactory aims to produce EV batteries, creating around 17,000 direct and indirect jobs, including 2,300 highly skilled positions. The project is led by Khalid Qalam, appointed president of Gotion Power Morocco SA in early September.
These agreements exemplify the extensive breadth of our portfolio and the diverse initiatives we pursue,” said ACWA Power chief executive Marco Arcelli to SPA.
“By collaborating with a variety of partners, we enhance our capabilities, particularly in the areas of innovation and research within our key sectors. This approach underscores our commitment to fostering strategic alliances that drive growth and advancement in the industry.
Such strategic alliances reinforce ACWA Power’s dedication to its mission of delivering affordable and reliable power and water solutions on a global scale, thereby strengthening our role in shaping a sustainable future,” he added.
According to Gotion High-Tech, this initiative marks the first phase of their industrial expansion in Morocco. The company envisions scaling up production capacity to 100 GWh, with a total projected investment of $6.3 billion.
Source: Morocco word news
