{"id":84583,"date":"2024-06-03T00:00:00","date_gmt":"2024-06-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/06\/03\/germanys-kfw-to-loan-ocp-eur-200-mn-for-green-projects\/"},"modified":"2024-06-03T00:00:00","modified_gmt":"2024-06-03T00:00:00","slug":"germanys-kfw-to-loan-ocp-eur-200-mn-for-green-projects","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/06\/03\/germanys-kfw-to-loan-ocp-eur-200-mn-for-green-projects\/","title":{"rendered":"Germany\u2019s KfW to loan OCP EUR 200 mn for green projects"},"content":{"rendered":"

<\/strong>OCP snags EUR 200 mn loan from KfW for green initiatives: <\/strong>Morocco's phosphates and fertilizers producer OCP has secured a EUR 200 mn loan from the German Development Bank (KfW) to reduce water use and expand renewables production, according to a statement<\/a> released on Friday. The funds will support sustainable fertilizer production and global food security in efforts to mitigate the impacts of climate change in the country.<\/p>\n

The breakdown: <\/strong>EUR 150 mn of the loan will go to projects that will help OCP achieve 100% non-conventional water use in industrial operations by 2024, the statement added. The remaining EUR 50 mn will go towards setting up 5 GW of clean energy by 2027 to help power operations and increase the firm\u2019s production of green fertilizers. The decarbonization plans aim to help OCP achieve carbon neutrality for Scope 1 and 2 emissions by 2030, and Scope 3 by 2040. <\/p>\n

All part of a bigger plan:<\/strong> This financing falls in line with OCP's USD 13 bn<\/a> green investment strategy for 2023-2027. The strategy allocates USD 7 bn towards green hydrogen and ammonia production with the goal to supply 1 mn tons annually by 2027, the statement notes. <\/p>\n

OCP Group recently drummed up major funds: <\/strong>OCP successfully raised USD 2 bn<\/a> for its decarbonization strategy through a dual-tranche Eurobond a week after it started the roadshow<\/a> for its international bond in April. The fertilizer company also received a total of USD 188 mn<\/a> in loans for desalination and renewable energy storage projects from the AfDB, the Clean Technology Fund and the Canada-African Development Bank Climate Fund back in February.<\/p>\n","protected":false},"excerpt":{"rendered":"

The loan is part of OCP's USD 13 bn green investment strategy<\/p>\n","protected":false},"author":1,"featured_media":84584,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","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":[84],"tags":[83,11,164,45,335],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseclimate","tag-green-finance","tag-morocco","tag-ocp","wpautop","entry"],"acf":{"mongo_id":"c312596b-1983-45c7-a0fa-0a0234d6c2d2","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/204.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Germany\u2019s KfW to loan OCP EUR 200 mn for green projects","related_issue":[84569],"teaser":"The loan is part of OCP's USD 13 bn green investment strategy","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.aa06511c-5bf5-42dd-893c-326271c560e4.mp3"},"yoast_head":"\nGermany\u2019s KfW to loan OCP EUR 200 mn for green projects - 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