Written by 10:05 pm Economy

Aelone announces 220.8m euro investment for wind turbine blade production plant in Morocco

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Chinese company Aeolon, specializing in the production of next-generation wind turbine blades, announced the beginning of the construction of its first overseas plant in Nador (Betoya), Industrial Acceleration Zone.

The plant, with a total investment of 220.8 million euros, aims to 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, according to a press release.

It is projected to create job opportunities for 3,332 employees and generate revenue of 626 million euros.

The project signed an investment deal with the Moroccan government in October 2023, with construction beginning at the end of the year and projected to be completed and functioning by the end of 2024.

Aeolon strategically wants to leverage Morocco’s advantageous position, benefiting from low transportation costs due to its proximity to Europe and the Middle East. It is expected to help the Chinese company address the great demand for blades in both European and American markets.

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 same source.

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 Delegate to the Head of Government, in charge of Investment, Convergence, and Evaluation of Public Policies 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.”

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