Taqa Morocco to develop AED 52 bn worth of energy infrastructure projects in Morocco: Abu Dhabi National Energy Company’s (Taqa) Moroccan arm Taqa Morocco has agreed to explore projects ranging from desalination and water transmission infrastructure to renewable energy and power transmission lines as part of a consortium with Moroccan energy firm Nareva, a wholly owned subsidiary of Moroccan sovereign fund Mohammed VI Investment Fund, according to a statement (pdf). The agreements, signed with Moroccan electricity and water utility the Office National de l’Electricité et de l’Eau potable (ONEE), will cost some AED 52 bn in investments to develop.

The projects include:

  • 2.5 mn cubic feet a day worth of desalination projects, set to be powered by ancillary sources developed by Taqa;
  • 2.2 mn cubic meters worth of water transmission networks;
  • Acquisition of an existing 400 MW combined cycle gas power power plant in Tahaddart, and the potential development of 1.1 GW worth of CCGT power projects;
  • Developing 3 GW high voltage direct current transmission infrastructure connecting Morocco’s south to its center;
  • and 1.2 GW worth of new renewable energy projects.

Ownership breakdown: Taqa and Nareva will hold equal stakes in the projects, with the Mohammed VI Investment Fund and other Moroccan public entities owning 15%, according to a separate statement from Taqa Morocco (pdf). The consortium will fund the projects through domestic and international financing, ONEE said in its statement (pdf).

Refresher: Taqa Morocco, which is listed on the Casablanca Stock Exchange, produces nearly 34% of the Kingdom’s power needs through its Jorf Lasfar power complex, which has around 2 GW power capacity. The UAE and Morocco had inked several agreements in 2023, during King Mohammed VI’s visit, including in the energy sector.

Tags: