Saudi Arabia’s ACWA Power has signed several agreements during the 8th edition of the Future Investment Initiative Conference in Riyadh, including a joint development agreement with Gotion Power Morocco, the subsidiary handling the Gigafactory project of the Sino-European group Gotion High-Tech, located in the Kenitra Industrial Acceleration Zone. Under this agreement, ACWA Power will develop a 500 MW wind power plant integrated with a 2,000 MWh Battery Energy Storage System (BESS).
The project, requiring an initial investment of $800 million, will supply energy to Gotion Power’s battery manufacturing plant in Morocco, which is expected to start production by early 2026.
It’s worth recalling that Gotion Power Morocco, with a total investment of no less than 65 billion dirhams, is part of an ecosystem for electric vehicle batteries in Morocco. The first phase, officially launched with the signing of the investment agreement on June 6, involves an investment of 12.8 billion dirhams to establish an industrial unit dedicated to manufacturing batteries for electric cars, with a capacity of 20 GW out of an eventual 100 GW. This factory will create 17,000 jobs, including 2,300 highly skilled positions, and will be operational by June 2026.
Furthermore, as previously reported, Gotion High-Tech’s Moroccan project, where Volkswagen is the principal shareholder, is expected to integrate into the German company’s supply chain. In other words, Gotion will supply Volkswagen from Morocco, contributing to the supply chain for the automaker’s European gigafactories, one of which is set to be operational in 2026, aligning with the timeline for the Moroccan plant’s startup.
