{"id":81691,"date":"2024-01-10T00:00:00","date_gmt":"2024-01-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/01\/10\/chinas-aeolon-will-open-its-first-wind-turbine-manufacturing-plant-in-morocco-this-month\/"},"modified":"2024-01-10T00:00:00","modified_gmt":"2024-01-10T00:00:00","slug":"chinas-aeolon-will-open-its-first-wind-turbine-manufacturing-plant-in-morocco-this-month","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/01\/10\/chinas-aeolon-will-open-its-first-wind-turbine-manufacturing-plant-in-morocco-this-month\/","title":{"rendered":"China\u2019s Aeolon will open its first wind turbine manufacturing plant in Morocco this month"},"content":{"rendered":"

Chinese wind turbine developer Aeolon will open up <\/strong>its first international plant<\/a><\/strong> in <\/strong>Morocco\u2019s Nador city by the end of the month<\/strong>, Telexpresse<\/a> reports. The plant will be located in Nador\u2019s industrial zone and will have an annual output of about 600 wind turbine blades, generating revenues of up to MAD 6 bn once fully operational. <\/p>\n

The financials: <\/strong>Aeolon\u2019s factory \u2014 set to be opened on Wednesday, 24 January \u2014 was previously estimated to cost EUR 220.8 mn, but is now recorded to have a MAD 3.4 bn (EUR 310 mn) investment ticket, the news outlet notes. <\/p>\n

Plans to leverage Morocco as an exports base:<\/strong> Aeolon chose to set up shop in the North African country to capitalize on its proximity to global markets and expand sales particularly to the EU and the remainder of the Middle East. The Chinese firm also has plans to tap into the US renewables market, the news outlet notes. Morocco\u2019s participation in China\u2019s Belt and Road initiative has provided incentives for Aeolon planned operations in the country, according to Telexpresse. <\/p>\n

We\u2019ve been seeing movement in the country\u2019s wind sector recently: <\/strong>Taqa Morocco \u2014 a subsidiary of Abu Dhabi National Energy Company (Taqa) \u2014 is looking to develop<\/a> a 6 GW renewables farm to power a planned MAD 100 bn (c.USD 10 bn) green hydrogen project in the North African country<\/p>\n

Morocco has big renewables targets:<\/strong> Morocco wants renewable energy to account for 80% of its total power generation<\/a> by 2050. The country plans to more than triple appropriations<\/a> for renewables projects to MAD 14 bn (c. USD 1.4 bn) between 2023-2027 as part of a target to have 50-52% of its energy come from renewables by 2030. Morocco\u2019s installed capacity of renewables stood at more than 4 GW as of 2022<\/a>, according to the country\u2019s Energy Transition and Sustainable Development Ministry.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company will leverage its MAD 3.4 bn wind turbine manufacturing plant in Morocco to expand exports to the EU and Middle East<\/p>\n","protected":false},"author":1,"featured_media":81692,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[48],"tags":[11,45,47,46],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-81691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wind","tag-enterpriseclimate","tag-morocco","tag-wind","tag-wind-energy","wpautop","entry"],"acf":{"mongo_id":"72f0fbaf-510c-4619-a969-1de272c79a49","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/155.jpg","photo_position":"above","homepage_title":"","full_issue_title":"China\u2019s 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