Taqa Morocco, a subsidiary of Abu Dhabi National Energy Company (Taqa), has announced plans to invest $1.6 billion in renewable energy projects in Morocco. These projects include the construction of new solar power plants and seawater desalination facilities. These plans are part of Taqa Morocco’s strategy to increase the share of renewable energy in Morocco’s energy mix and meet the country’s growing demand for electricity.
Taqa Morocco’s strategy for 2030
Taqa Morocco revealed its ambitious plans at an energy seminar in Casablanca. Taqa Morocco chairman Abdul Majeed Eraqi said the company’s plans include building new solar power plants across the country. Some projects are already under construction in various parts of the country, and the company is also planning to build a 200 megawatt solar power plant. The total cost of these projects is estimated at approximately $1.6 billion.
A step towards Morocco’s goal
Taqa Morocco’s investment in renewable energy is an important step towards achieving Morocco’s goal of producing 52% of its energy mix from renewable sources by 2030. With Taqa Morocco’s ambitious plans, the country is well positioned to become a key player in the global shift to clean energy.
The company wants to reduce its carbon footprint
Founded in 1997, TAQA Morocco is the first private electricity producer in Morocco. Currently, the company operates the largest coal-fired power plant in Africa and the Middle East, located in the Jorf Lasfar region. Composed of six units, the plant has a combined generating capacity of 2056 megawatts. However, Taqa Morocco plans to expand its horizons by incorporating cleaner energy sources, such as gas and renewables, starting in 2023 to reduce its carbon footprint.
A commitment to solving water shortages
In addition to its intention to invest in renewable energy projects in Morocco, TAQA Morocco has revealed that it intends to address the country’s water shortage by participating in the development of combined cycle plants in coastal cities. These initiatives align with the government’s desalination goals. To finance these efforts, TAQA Maroc will use its own resources, as well as debt financing, and will create subsidiaries to oversee proposed projects. This new strategy demonstrates the company’s commitment to sustainable development and its role in driving positive change in the energy and water sectors in Morocco.
