TAQA Morocco SA
CCSEMA:TQM1,627.00
MAD
-3.00
(-0.18%)
ISIN
MA0000012205
Return %
Stock
S&P 500
1Y
-34.89
14.39
3Y
49.27
81.42
5Y
49.95
68.62
Capital Structure
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in mil. unless spec.Growth Rates
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in mil. unless spec.Semi-annual Revenue
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in mil. unless spec.Semi-annual Earnings Per Share
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in mil. unless spec.Company Description
- CEO
- Abdelmajid Iraqui Houssaini
- Sector
- Utilities
- Industry
- Electric utilities
- Address
- El Jadida Morocco
- IPO Date
- Dec 24, 2013
- Website
- taqamorocco.ma
- Similar Companies
- Business
- TAQA Morocco SA is an independent power producer and utility operator primarily engaged in the generation of electricity, industrial utility management, and the development of renewable energy and water desalination infrastructure in Morocco. Founded in 1997 and headquartered in Casablanca, Morocco, the company operates as a subsidiary of Abu Dhabi National Energy Company PJSC (TAQA), which maintains a majority controlling stake. The company serves as a foundational supplier of base-load power to Morocco's national grid, providing wholesale electricity to the state-owned utility Office National de l'Electricite et de l'Eau Potable (ONEE) under long-term power purchase agreements. The company organizes its business operations into two principal divisions: Thermal Power Generation and Renewable Energy & Utilities. Its products and services comprise: thermal electric power generation, centered on the Jorf Lasfar thermal power complex located in the El Jadida province, which features an aggregate installed capacity of 2,056 megawatts across six production units (Units 1 to 4 with 1,356 megawatts and Units 5 to 6 with 700 megawatts), supplying more than one-third of the kingdom's national electricity consumption; power plant operations and maintenance (O&M) services, encompassing asset management, steam turbine maintenance, boiler overhauls, flue-gas desulfurization, coal handling logistics, and grid interconnection; renewable electricity generation, including the development, engineering, procurement, construction, and operation of utility-scale onshore wind farms, solar photovoltaic (PV) installations, and hybrid clean energy systems under the regulatory framework of Law 13-09 for high-voltage and medium-voltage industrial off-takers; industrial water and seawater desalination solutions, providing large-scale seawater reverse osmosis (SWRO) water processing and municipal water supplies; and low-carbon energy transition services, involving project development for green hydrogen, green ammonia, and clean derivative fuels. In recent strategic developments, TAQA Morocco SA has advanced its Ambition 2030 corporate growth strategy, initiating a major capital expenditure plan to diversify its asset base and expand low-carbon power production. As part of this transition, the company is developing a 1,000-megawatt pipeline of renewable energy projects by 2030, which includes a 100-megawatt onshore wind power facility in northern Morocco, solar photovoltaic sites under the national Noor PV II program, and bilateral renewable corporate power purchase agreements with private industrial entities. To address national water scarcity challenges, the company has broadened its operational mandate into large-scale seawater desalination, partnering with industrial and governmental stakeholders to develop integrated desalination plants powered by co-located renewable energy sources. Additionally, the company has completed domestic bond financing optimizations to fund its clean energy and low-carbon infrastructure investments, while advancing strategic feasibility studies for green hydrogen and derivative export projects.