Latest news with #MohammedVIInvestmentFund
Ya Biladi
4 days ago
- Business
- Ya Biladi
King Mohammed VI advocates for Africa's economic transformation at Ibrahim Governance Forum 2025
King Mohammed VI delivered a powerful message to the participants of the 2025 «Ibrahim Governance Weekend» Forum, which opened on Sunday, June 1, in Marrakech. In his address, read by royal advisor André Azoulay, the King outlined strategies to ensure Africa's development. He called for a «paradigm shift in development financing (...) to devise innovative mechanisms and fully leverage the contributions of the African diaspora». He stressed that «Africa cannot rely solely on public development aid or external funding, which, by nature, generate debt». Instead, he urged Africans to foster «an institutional, economic, and social environment conducive to development». Recalling his February 22, 2015 speech in Abidjan at the opening of the Morocco-Ivory Coast Forum, the King reiterated his call to «strengthen and expand intra-African trade», highlighting that «Africa's share of global trade does not exceed 3%», while «intra-African trade accounts for only 16% of the continent's total trade volume, compared to 60% in Europe and 50% in Asia». «With 40% of the world's raw material reserves and 30% of critical minerals, as well as vast mineral, energy, water, agricultural, and biological resources, Africa can no longer afford to simply export its raw materials. The time has come for Africa to fully harness its wealth», he declared. The King underscored that «Morocco is now positioning itself as a strategic catalyst for South-South partnerships», citing concrete, transformative projects that will reshape the continent's economic and social landscape, including the African Atlantic Gas Pipeline (AAGP), described as «a true corridor for integration and economic development». Morocco, he added, is also committed to financing African projects through the «Mohammed VI Investment Fund» and «Casablanca Finance City». «Development cannot be decreed; it is built through ambitious policies, investment in human capital, and rigorous economic governance». In his 2015 address in Abidjan, King Mohammed VI emphasized that «if the last century was one of independence for African states, the 21st century must be one of triumph over the scourges of underdevelopment, poverty, and exclusion».
Maroc
21-05-2025
- Business
- Maroc
Morocco, UAE Consortium to Invest in Strategic Water, Energy Infrastructure
A Moroccan-Emirati consortium including the Mohammed VI Investment Fund, TAQA Morocco—part of Abu Dhabi's TAQA Group—and NAREVA has signed three memoranda of understanding with the Moroccan government and the state utility ONEE to develop large-scale water and energy infrastructure. The agreements, sealed under a declaration signed by HM King Mohammed VI and UAE President Sheikh Mohammed bin Zayed Al Nahyan in December 2023, cover critical projects in desalination, electricity generation and transmission, and water transfer systems. The program aims to address Morocco's pressing water scarcity and energy demands, while advancing the country's long-term goals of energy independence and climate resilience. The proposed investments include: Water Transfer: Construction of a pipeline between the Sebou and Oum Rabia basins with an annual capacity of 800 million cubic meters to mitigate regional water stress. Desalination: Development of seawater desalination plants powered entirely by renewable energy, totaling 900 million cubic meters per year. Target costs are capped at MAD 4.5/m³ (excluding VAT), in line with current national benchmarks. Electricity Transmission: A 1,400-km high-voltage direct current (HVDC) line linking southern and central Morocco, with 3,000 MW capacity, to facilitate renewable energy distribution. Renewables: Deployment of 1,200 MW in new green electricity capacity. Gas Power: Construction of a 1,500 MW combined-cycle natural gas power plant at the Tahaddart site to support grid stability. Each project will be governed by individual development agreements between ONEE and the consortium. The first such agreement, covering the Tahaddart power plant, has already been finalized. The consortium will lead the structuring and mobilization of financing, drawing from both domestic and international lenders. The timeline targets phased completion by 2030, subject to regulatory approvals, including merger control procedures. The initiative is expected to generate over 25,000 jobs—10,000 of them permanent—and foster a local industrial base in desalination and renewable technologies. It also aims to spur workforce training and technology transfer. Framed as a transformational public-private partnership, the program underscores Morocco's ambition to secure critical resources, attract foreign investment, and position itself as a regional leader in sustainable infrastructure. MAP: 20 mai 2025
Morocco World
20-05-2025
- Business
- Morocco World
Morocco, UAE Sign $14 Billion Megadeal: Key Details on the Largest Private Investment in Morocco's History
Doha – The largest private investment in Morocco's modern history has just been inscribed in the country's economic annals. Yesterday, the country sealed an extraordinary $14 billion accord with the United Arab Emirates – an injection of unprecedented scale that promises to permanently alter the country's water and energy equation, while fundamentally reshaping its infrastructure landscape for generations to come. The ceremonial ink still fresh, the agreement binds Morocco's government and the National Office of Electricity and Drinking Water (ONEE) with a consortium of financial titans: the Mohammed VI Investment Fund, TAQA Morocco (the local subsidiary of Abu Dhabi's energy colossus), and Nareva (the energy arm of the royal holding Al Mada). At MAD 130 billion ($14 billion), this collaboration transcends mere commercial arrangement – it heralds a profound reengineering of critical national infrastructure by 2030. Central to this ambitious blueprint stands a colossal 1,400-kilometer high-voltage transmission corridor stretching from Western Sahara to Casablanca, complemented by a network of sophisticated seawater desalination facilities. These projects emerge as the culmination of meticulous diplomatic chess moves, coming just five months after King Mohammed VI's private visit to Abu Dhabi and 18 months following his official state visit to the Emirati capital, where the groundwork for this Moroccan-Emirati renaissance was carefully laid. Water security: A thirst for innovation Desert kingdoms understand water's value. The consortium's hydric strategy unfolds with architectural precision: a vast network connecting the Sebou and Oum Rabia river basins, engineered to channel 800 million cubic meters annually across thirsty territories. The first phase of water transfer between the Sebou and Bouregreg basins became operational in August 2023, successfully diverting approximately 350 million cubic meters to the Sidi Mohammed Ben Abdellah dam, critical for supplying drinking water to the Rabat region. Four jewels in this water crown will rise across Morocco's map. In Tanger, a 50-million-cubic-meter annual capacity station will quench the industrial thirst of this burgeoning port hub. Nador's installation, six times more ambitious at 300 million cubic meters, will transform the eastern region's hydric calculus. The agricultural heartland of Souss will benefit from Tiznit's 350-million-cubic-meter facility – the largest of the quartet. Completing this hydraulic network, either Tan-Tan or Guelmim will host a 100-million-cubic-meter operation to serve the arid southern frontier. These cutting-edge desalination facilities, engineered to operate exclusively on renewable energy, will collectively produce 900 million cubic meters annually. Notably, they will maintain competitive pricing at or below MAD 4.50 per cubic meter (excluding tax), aligning with national benchmark rates established for ongoing desalination initiatives – all without requiring public subsidies. The electric heartbeat: Energy sovereignty reimagined The consortium's energy infrastructure vision is anchored by a groundbreaking high-voltage direct current (HVDC) transmission network spanning 1,400 kilometers between Morocco's southern territories and its central economic hub. This sophisticated 'electricity highway' will connect Dakhla to Casablanca with a 3,000 megawatt capacity, dramatically strengthening energy distribution capabilities while catalyzing economic and industrial development throughout the corridor. This transmission masterpiece will be fed by 1,200 megawatts of fresh renewable capacity, predominantly harvested from the sun-drenched southern provinces. The geographic strategy is to harness the natural abundance of Morocco's desert regions, translate it into clean energy, and deliver it to industrial centers at competitive rates. Complementing these renewable ambitions, the Tahaddart complex will undergo a renaissance. This gas-fired installation will see its capacity quadrupled through new combined-cycle units, elevating total output to 1,500 megawatts. This expansion offers crucial ballast to a grid increasingly danced upon by the variable rhythms of wind energy. The human dividend, capital choreography, and implementation cadence Beyond pipes and pylons lies perhaps the most valuable yield: people. This grand design promises to spawn over 25,000 employment opportunities through construction and operation, with 10,000 permanent positions taking root after commissioning. The consortium envisions not merely infrastructure but ecosystem – a fertile soil where technology transfer blooms and local industrial expertise in desalination and renewable energy flourishes. From this terrain will grow new educational pathways and technical specializations, training the standard-bearers of Morocco's water and energy future. The financial architecture of this mammoth endeavor will be orchestrated by the consortium, drawing capital from domestic and international financial wellsprings. The urgency is palpable; the project's partners have pledged to assemble elite technical minds to ensure methodical implementation through 2030. As with all ventures of this magnitude, regulatory gauntlets must be run, particularly regarding concentration operations. Each project component will be governed by bespoke development agreements between ONEE and the consortium. The first such accord, focusing on Tahaddart's expansion, has already materialized. The architects of the alliance This historic partnership harmonizes complementary strengths. Nareva, Morocco's private electricity champion, brings 3,200 megawatts of installed capacity producing over 15 terawatt-hours annually. As Africa's wind energy pioneer, it operates eleven parks totaling 1,810 megawatts alongside the thermal goliath of Safi (1,386 megawatts). With extensive expertise in electrical transmission infrastructure (exceeding 300 kilometers of high-voltage lines) and advanced water engineering, Nareva currently leads the innovative Amensouss project and is constructing the world's first exclusively renewable-powered desalination facility in Dakhla. TAQA Morocco, publicly traded on the Casablanca Stock Exchange since 2013, delivers 34% of Morocco's national electricity requirements despite representing only 17% of installed capacity. With a strategic focus on desalination, renewable energy development, low-carbon solutions, and infrastructure networks, the company actively advances national energy transition objectives and water security initiatives. Its parent organization, Abu Dhabi National Energy Company PJSC (TAQA), operates as a diversified energy and utilities powerhouse with operations spanning 25 countries worldwide. A diplomatic masterpiece These accords signal the diplomatic renaissance between Morocco and the Emirates after a period of relative ambiguity. They physically manifest the vision sketched during King Mohammed VI's December 2023 meeting with Sheikh Mohamed bin Zayed Al Nahyan – a blueprint for collaboration in strategically vital domains. This official visit established a 'renewed partnership' between the Maghreb and Gulf country with announcements of strengthened collaboration in strategic domains including energy and infrastructure development. The sovereign's subsequent private voyage proved equally fertile, brokering peace between telecommunications titans Maroc Telecom and Inwi, ending a decade-long legal skirmish and birthing a joint venture to develop 5G infrastructure for international events including the 2025 Africa Cup of Nations and the 2030 World Cup. For fifteen years, Morocco has methodically invested in renewable energy, which now covers 38% of its electricity needs, with aspirations to reach 52% by 2030. Simultaneously confronting chronic water scarcity, the kingdom has embraced desalination as salvation. This Emirati partnership accelerates both these vital transitions, binding two desert nations in a quest for resource security and sustainable prosperity. Tags: Morocco UAErenewable energyUAE Investmentwater security
Arabian Business
20-05-2025
- Business
- Arabian Business
TAQA Morocco and partners eye AED52bn in Moroccan energy and desalination projects
TAQA Morocco Group (AQA Morocco), a subsidiary of Abu Dhabi National Energy Company, along with Nareva, an Al Mada Group arm, and the Mohammed VI Investment Fund, a Moroccan sovereign fund, announced signing a pact with the Moroccan government to explore the acquisition of a slew of energy and desalination projects in the African country. The three entities signed a Memorandum of Understanding (MoU) with the Office National de l'Electricité et de l'Eau potable (ONEE), besides the Moroccan government, to explore the acquisition of an existing Combined Cycle Gas Turbine (CCGT) power plant, the development of new flexible low-carbon gas-fired power and renewable power generation projects. The shopping list for acquisitions also includes seawater desalination projects, water transmission infrastructure and electricity transmission infrastructure in the Kingdom of Morocco, TAQA said in a media release. Under the MoUs, TAQA Morocco and its public and private partners will jointly explore the development of low-carbon power and water generation and transmission assets with a potential investment of approximately $14.15 billion (AED 52 billion) in Morocco to support its energy transition and water security. The scope of the MoUs includes new seawater desalination projects with approximately 2.5 million cubic metres per day capacity, development of water transmission networks with a capacity of approximately 2.2 million cubic metres per day, acquisition of an existing 400 MW CCGT power plant in Tahaddart, north of Morocco, potential development of 1,100 MW of greenfield CCGT power projects; and the development of new 3,000 MW high voltage direct current transmission infrastructure connecting the South to the Centre of Morocco. The agreement also envisaged 1,200 MW of new renewable energy projects. Farid Al Awlaqi, Chairman of the Supervisory Board of TAQA Morocco and Chief Executive Officer, Generation at TAQA Group, said the latest announcement is a testament to the company's track record and commitment to diversifying its portfolio and transitioning to lower-carbon energy alternatives to accelerate sustainable development in the Kingdom. 'This collaboration plays a significant role in supporting TAQA's growth ambitions for 2030 with the exploration of developing up to 2.7 GW of low-carbon CCGT and renewable power generation capacity which includes the acquisition of an existing 400 MW CCGT plant, more than 542 MIGD of sustainable RO water desalination capacity, and power and water transmission infrastructure,' he said. The latest announcement follows UAE President Sheikh Mohamed bin Zayed Al Nahyan and King Mohammed VI of the Kingdom of Morocco signing a declaration in December 2023 to establish a 'solid and innovative partnership' in efforts to develop bilateral economic, trade, and investment cooperation.
Morocco World
20-05-2025
- Business
- Morocco World
Morocco, UAE Join Forces in $13 Billion Landmark Energy, Water Partnership
Rabat — Morocco is determined to address critical energy and water challenges, leading the way towards strong water and electricity sovereignty. A powerful consortium including the Mohammed VI Investment Fund, TAQA Morocco, and NAREVA formalized today three agreements with the Moroccan government and the National Office of Electricity and Water (ONEE). According to a statement from TAQA Morocco, the initiative stems from a joint declaration between King Mohammed VI and UAE President Sheikh Mohamed bin Zayed Al Nahyan signed in December 2023. In a context marked by 'the urgent need to implement the water and energy roadmaps,' the statement said the 'partnership will be implemented in an accelerated timeframe, with an investment of nearly MAD 130 billion ($13 billion) by 2030.' The strategic program materializes this partnership, aiming to 'boost Morocco's water sovereignty and the resilience of the national network of electricity transportation.' The statement explained that the program not only works towards enhancing water desalination capacities, but also natural gas-based electricity, and boosting renewable energy integration in the network. For water security, the program will construct transfer infrastructure between major river basins, moving 800 million cubic meters annually to water-stressed regions. Meanwhile, new desalination plants powered entirely by renewable energy will add 900 million cubic meters of fresh water capacity each year. Energy infrastructure forms an equally important component. A massive 1,400-kilometer high-voltage transmission line will connect southern and central Morocco, carrying 3,000 MW of electricity. Read also: Morocco, UAE Sign Joint Declaration to Boost 'Renewed, Deep-Rooted' Ties This will enable the country to better utilize renewable resources from its sun-rich southern regions. The consortium will also develop 1,200 MW of new renewable energy capacity while also building flexible gas-powered plants in Tahaddart with approximately 1,500 MW capacity. This balanced approach aims to guarantee both Morocco's energy security and environmental sustainability. The partnership extends beyond physical infrastructure. The program will create over 25,000 jobs, including 10,000 permanent positions, while driving technology transfer and industrial development. Local manufacturing capacity in the desalination and renewable energy sectors will grow significantly as a result, TAQA Morocco adds. 'These projects will be equally owned by TAQA Morocco and Nareva, with the Mohammed VI Fund for Investment and other public players holding a 15% stake,' the statement concluded. Morocco's collaboration with the UAE further shows its dedication to engaging in regional partnerships to address complex challenges through shared expertise, investment, and vision, creating a model for sustainable development across North Africa and the Middle East at large. Read also: Morocco, UAE Expand Security Cooperation with New Agreement Tags: ONEETaqa MoroccoWater and EnergyWater sovereignty
