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Business Upturn
21-05-2025
- Business
- Business Upturn
Strategic Partnership Between the Government of Morocco and TAQA Morocco, Nareva, ONEE and the Mohammed VI Investment Fund to Develop Key Power and Water Infrastructures in the Kingdom of Morocco
By Business Wire Published on May 21, 2025, 12:08 IST Casablanca, Morocco: As part of the implementation of the commitments made in the joint declaration between His Majesty King Mohammed VI, may God Assist Him, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, TAQA Morocco, in partnership with Nareva and the Mohammed VI Fund for Investment, has signed three memorandums of understanding and related development agreements with the Government of Morocco and ONEE. These agreements cover the development of structuring projects in the power, water and renewable energy sectors. This press release features multimedia. View the full release here: Strategic Partnership Between the Government of Morocco and TAQA Morocco, Nareva, ONEE and the Mohammed VI Investment Fund to Develop Key Power and Water Infrastructures in the Kingdom of Morocco (Photo: AETOSWire) The program aims to strengthen the Kingdom's water and energy sovereignty through the development of flexible natural gas-based power generation capacity, seawater desalination and water transport infrastructure, and a new power transport line between the south and center of the Kingdom. Involving a total investment of around 130 billion dirhams by 2030, this partnership will enable: The production of 900 million m³ of desalinated water and the transport of 800 million m³ through the water highway project. The acquisition of the Tahaddart gas-fired power plant (400 MW) and the addition of 1,100 MW of combined-cycle capacity. The development of 1,200 MW of renewable energies under contract with ONEE, as well as an HVDC line of around 3,000 MW. All of these projects will be equally owned by TAQA Morocco and Nareva, with a 15% stake held by Fonds Mohammed VI pour l'Investissement. Abdelmajid Iraqui Houssaini, Chairman of the Board of TAQA Morocco: 'This strategic public / private partnership will contribute to significantly and sustainably transform the domestic water and energy landscape in Morocco with the enhancement of desalination capacities and water transmission. It reinforces the transmission network with a higher contribution of gas-fired power generation in Morocco's baseload to increase the integration of renewable energy sources. This important investment programme will also accelerate the growth and diversification of TAQA Morocco's business portfolio.' About TAQA Morocco: *Source: AETOSWire View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same. Business Wire is an American company that disseminates full-text press releases from thousands of companies and organizations worldwide to news media, financial markets, disclosure systems, investors, information web sites, databases, bloggers, social networks and other audiences.
Zawya
21-05-2025
- Business
- Zawya
Strategic partnership between the Government of Morocco and TAQA Morocco, Nareva, ONEE and the Mohammed VI Investment Fund
Casablanca, Morocco: As part of the implementation of the commitments made in the joint declaration between His Majesty King Mohammed VI, may God Assist Him, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, TAQA Morocco, in partnership with Nareva and the Mohammed VI Fund for Investment, has signed three memorandums of understanding and related development agreements with the Government of Morocco and ONEE. These agreements cover the development of structuring projects in the power, water and renewable energy sectors. The program aims to strengthen the Kingdom's water and energy sovereignty through the development of flexible natural gas-based power generation capacity, seawater desalination and water transport infrastructure, and a new power transport line between the south and center of the Kingdom. Involving a total investment of around 130 billion dirhams by 2030, this partnership will enable: - The production of 900 million m³ of desalinated water and the transport of 800 million m³ through the water highway project. - The acquisition of the Tahaddart gas-fired power plant (400 MW) and the addition of 1,100 MW of combined-cycle capacity. - The development of 1,200 MW of renewable energies under contract with ONEE, as well as an HVDC line of around 3,000 MW. All of these projects will be equally owned by TAQA Morocco and Nareva, with a 15% stake held by Fonds Mohammed VI pour l'Investissement. Abdelmajid Iraqui Houssaini, Chairman of the Board of TAQA Morocco: 'This strategic public / private partnership will contribute to significantly and sustainably transform the domestic water and energy landscape in Morocco with the enhancement of desalination capacities and water transmission. It reinforcsereinforces the transmission network with a higher contribution of gas-fired power generation in Morocco's baseload to increase the integration of renewable energy important investment programme will also accelerate the growth and diversification of TAQA Morocco's business portfolio.' About TAQA Morocco: *Source: AETOSWire
National Post
20-05-2025
- Business
- National Post
Strategic Partnership Between the Government of Morocco and TAQA Morocco, Nareva, ONEE and the Mohammed VI Investment Fund to Develop Key Power and Water Infrastructures in the Kingdom of Morocco
Article content CASABLANCA, Morocco — As part of the implementation of the commitments made in the joint declaration between His Majesty King Mohammed VI, may God Assist Him, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, TAQA Morocco, in partnership with Nareva and the Mohammed VI Fund for Investment, has signed three memorandums of understanding and related development agreements with the Government of Morocco and ONEE. These agreements cover the development of structuring projects in the power, water and renewable energy sectors. Article content Article content The program aims to strengthen the Kingdom's water and energy sovereignty through the development of flexible natural gas-based power generation capacity, seawater desalination and water transport infrastructure, and a new power transport line between the south and center of the Kingdom. Article content Involving a total investment of around 130 billion dirhams by 2030, this partnership will enable: Article content The production of 900 million m³ of desalinated water and the transport of 800 million m³ through the water highway project. The acquisition of the Tahaddart gas-fired power plant (400 MW) and the addition of 1,100 MW of combined-cycle capacity. The development of 1,200 MW of renewable energies under contract with ONEE, as well as an HVDC line of around 3,000 MW. Article content All of these projects will be equally owned by TAQA Morocco and Nareva, with a 15% stake held by Fonds Mohammed VI pour l'Investissement. Article content Abdelmajid Iraqui Houssaini, Chairman of the Board of TAQA Morocco: 'This strategic public / private partnership will contribute to significantly and sustainably transform the domestic water and energy landscape in Morocco with the enhancement of desalination capacities and water transmission. It reinforces the transmission network with a higher contribution of gas-fired power generation in Morocco's baseload to increase the integration of renewable energy sources. This important investment programme will also accelerate the growth and diversification of TAQA Morocco's business portfolio.' Article content Article content Article content Article content Article content Article content
Zawya
20-05-2025
- Business
- Zawya
UAE's TAQA Group to develop $14bln energy and water projects in Morocco
TAQA Morocco, a subsidiary of Abu Dhabi-listed utilities and energy company TAQA Group, is collaborating with local energy company Nareva and the Mohammed VI Fund for Investment (Fonds Mohammed VI pour lnvestissement) to develop renewable energy, desalination, and gas-fired power generation projects in the Kingdom. TAQA Morocco and partners signed three memorandums of understanding (MOU) and associated development agreements with the Moroccan government and the National Office of Electricity and Drinking Water (ONEE) to develop these projects with an investment plan totaling approximately 130 billion Moroccan dirhams ($14 billion) by 2030, according to a press statement issued by the company. The key project components are: Production of 900 million cubic metres (m3) of desalinated water and the construction of a water transport network capable of carrying 800 million m3. Acquisition of the existing 400-megawatt (MW) Tahaddart gas-fired power plant and the addition of 1,100 MW in new combined-cycle capacity. Development of 1,200 MW of new renewable energy capacity under contract with ONEE. A high-voltage direct current (HVDC) line with an approximate capacity of 3,000 MW. Project ownership will be shared equally between TAQA Morocco and Nareva, with a 15 percent stake held by the Mohammed VI Fund. The initiatives will increase the share of gas-fired power in Morocco's baseload energy mix and facilitate higher integration of renewable energy sources into the national grid. (Writing by SA Kader; Editing by Anoop Menon) (
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.
