Latest news with #désalinisation
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.
