Saturday, June 15, 2024
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Home » Chinese wind turbine developer Aeolon to open up its first international plant in Nador

Chinese wind turbine developer Aeolon to open up its first international plant in Nador

by Benoy Mazumdar
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Chinese company Aeolon, specializing in the production of next-generation wind turbine blades, announced the beginning of the construction works of its first overseas plant in Morocco’s Nador Industrial Acceleration Zone.

The plant, requiring an initial investment of €220.8 million, will produce wind turbine blades for markets in Europe, Africa, and the Middle East. It is expected to have an annual production capacity of 600 sets of blades, Aeolon says in a press release.

The plant is projected to create job opportunities for 3,332 employees and generate revenue worth €626 million.

Under the investment deal signed with the Moroccan government in October 2023, the project is set to be completed and functioning by the end of 2024.

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

Morocco’s active participation in China’s “Belt and Road” initiative, combined with favorable incentive measures, creates a favorable atmosphere for Aeolon’s development, says the press release.

The stable economic climate, substantial foreign investments, and strong government support for new energy projects and industries further contribute to Aeolon’s growth.

Morocco’s vast supply of high-quality human resources, combined with government preferential policies and training opportunities, effectively satisfies Aeolon’s employment demands, according to the press release.

Once completed, the plant is poised to be a prominent wind turbine blade production facility in Europe, Africa, and the Middle East, meeting expanding demand in the regional wind power market.

“The landing of this major project indicates the further rise of Morocco in the field of new energy, and will also create more opportunities for local economic development and employment, indicating the further rise of Morocco in the field of new energy,” according to the press release.

In this regard, Minister in charge of Investment Mohcine Jazouli commented, “Aeolon’s investment is one of the first and major projects approved by the National Investment Commission since the launch of the new Investment charter.”

He went on and say, “expected to be operational by January 2025, the impact of this project in terms of job creation extends beyond Nador, significantly contributing to the economic development of both the region and the broader national energy industrial ecosystem.”

Morocco has big renewables targets. It wants renewable energy to account for 80% of its total power generation by 2050. The country plans to more than triple appropriations for renewables projects to $1.4 bn between 2023-2027 as part of a target to have 50-52% of its energy come from renewables by 2030. Morocco’s installed capacity of renewables stood at more than 4 GW as of 2022, according to the country’s Energy Transition and Sustainable Development Ministry.

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