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.
TAQA Group, the largest producer of desalinated water in the UAE, is expected to bring its wealth of experience through TAQA Morocco to the Kingdom.
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