Latest news with #TaqaMorocco
Al-Ahram Weekly
20-05-2025
- Business
- Al-Ahram Weekly
UAE-Morocco consortium sign $14 bln worth of energy, water deals - Energy
Morocco on Monday signed deals with an Emirati-Moroccan consortium for energy and water infrastructure projects, which according to one of the companies involved were worth more than $14 billion. The country and state-owned National Office of Electricity and Drinking Water (ONEE) signed three agreements with the Mohammed VI Public Investment Fund and energy groups Taqa Morocco, a subsidiary of the Emirati energy giant Taqa, and Nareva, the energy wing of the royal holding company Al Mada. These projects aim to "strengthen both water security and energy independence" in Morocco, the signatories said in a joint statement. The total investment amounts to nearly 130 billion dirhams (approximately $14 billion) by 2030, Taqa Morocco said in a separate statement. The signed agreements include the construction of a 1,400 kilometre (850 mile) high-voltage line transporting green electricity from the disputed territory of Western Sahara to Casablanca, as well as seawater desalination plants. Over the past 15 years, Morocco has invested heavily in renewable energy, which currently provides for 38 percent of its electricity needs and aims to reach 52 percent by 2030. Facing acute water stress, Morocco is relying on desalination to increase its water resources. Follow us on: Facebook Instagram Whatsapp Short link:
Al-Ahram Weekly
20-05-2025
- Business
- Al-Ahram Weekly
UAE-Morocco consortium sign $14 bn worth of energy, water deals - Energy
Morocco on Monday signed deals with an Emirati-Moroccan consortium for energy and water infrastructure projects, which according to one of the companies involved were worth more than $14 billion. The country and state-owned National Office of Electricity and Drinking Water (ONEE) signed three agreements with the Mohammed VI Public Investment Fund and energy groups Taqa Morocco, a subsidiary of the Emirati energy giant Taqa, and Nareva, the energy wing of the royal holding company Al Mada. These projects aim to "strengthen both water security and energy independence" in Morocco, the signatories said in a joint statement. The total investment amounts to nearly 130 billion dirhams (approximately $14 billion) by 2030, Taqa Morocco said in a separate statement. The signed agreements include the construction of a 1,400 kilometre (850 mile) high-voltage line transporting green electricity from the disputed territory of Western Sahara to Casablanca, as well as seawater desalination plants. Over the past 15 years, Morocco has invested heavily in renewable energy, which currently provides for 38 percent of its electricity needs and aims to reach 52 percent by 2030. Facing acute water stress, Morocco is relying on desalination to increase its water resources. Follow us on: Facebook Instagram Whatsapp Short link:
Al-Ahram Weekly
19-05-2025
- Business
- Al-Ahram Weekly
UAE-Morocco consortium sign $14 billion worth of energy, water deals - Energy
Morocco on Monday signed deals with an Emirati-Moroccan consortium for energy and water infrastructure projects, which according to one of the companies involved were worth more than $14 billion. The country and state-owned National Office of Electricity and Drinking Water (ONEE) signed three agreements with the Mohammed VI Public Investment Fund and energy groups Taqa Morocco, a subsidiary of the Emirati energy giant Taqa, and Nareva, the energy wing of the royal holding company Al Mada. These projects aim to "strengthen both water security and energy independence" in Morocco, the signatories said in a joint statement. The total investment amounts to nearly 130 billion dirhams (approximately $14 billion) by 2030, Taqa Morocco said in a separate statement. The signed agreements include the construction of a 1,400 kilometre (850 mile) high-voltage line transporting green electricity from the disputed territory of Western Sahara to Casablanca, as well as seawater desalination plants. Over the past 15 years, Morocco has invested heavily in renewable energy, which currently provides for 38 percent of its electricity needs and aims to reach 52 percent by 2030. Facing acute water stress, Morocco is relying on desalination to increase its water resources. Follow us on: Facebook Instagram Whatsapp Short link:
Ya Biladi
19-05-2025
- Business
- Ya Biladi
Morocco-UAE consortium launches major water and energy infrastructure project
A consortium formed by the Mohammed VI Investment Fund, Taqa Morocco, and Nareva was created to advance Morocco's strategic infrastructure. This Morocco-UAE partnership has signed three memorandums of understanding with the Moroccan government and the National Office of Electricity and Drinking Water (ONEE) to develop new infrastructure for water and electricity transport, seawater desalination, and power generation from renewable and natural gas sources. The large-scale investment program worth approximately 130 billion dirhams by 2030 stems from the joint declaration signed on December 4, 2023, between King Mohammed VI and UAE President Sheikh Mohamed bin Zayed. It aims to address Morocco's urgent needs in water and energy through a large-scale investment program to be completed by 2030, announced an ONEE press release on Monday. The program includes five key components: · Water transfer between the Sebou and Oum Rbia basins (800 million m³/year), · Seawater desalination capacity of 900 million m³/year powered entirely by renewables, · A 1,400-km HVDC power line (3,000 MW) linking the south to the center, · An additional 1,200 MW in renewable energy, · Gas-fired combined cycle power plants in Tahaddart (1,500 MW total). Each project will be governed by specific development agreements between the consortium and ONEE. The first deal, for the Tahaddart plant, has already been signed. Financing will be arranged by the consortium and sourced from both national and international lenders. Beyond infrastructure, the program is expected to create over 25,000 jobs—including 10,000 permanent roles—foster technology transfer, and support the emergence of a local industrial ecosystem, particularly in desalination and renewable energy. Ultimately, the project aims to combine national sovereignty, water security, clean energy transition, and technological innovation—while generating a lasting impact on employment, competitiveness, and sustainable development.
Zawya
19-05-2025
- Business
- Zawya
Taqa Morocco shares suspended pending major announcement
The shares of Taqa Morocco, the country's largest private electricity producer, have been suspended from trading on Monday pending a major announcement, the Casablanca stock exchange said. The decision came at the request of bourse regulator AMMC. Taqa Morocco is the third-largest company by market cap on the stock market. (Reporting by Ahmed Eljechtimi, Editing by Louise Heavens)
