Video.  The “green” ambitions of Taqa Morocco

Video. The “green” ambitions of Taqa Morocco

The first six months of the current year have been mixed for Taqa Morocco. The group achieved a turnover of Dh7.44 billion (MMDH), an increase of 26.1% compared to the same period a year earlier. A performance that can be explained by the increase in energy costs, in line with the increase in the price of coal, explains Omar Alaoui M’Hamdi, Deputy General Manager of Taqa Morocco.

In contrast, the group’s net profit fell by almost a quarter to Dh458 million. Management explains this decline by the impact of the change in the international coal price benchmark and the exceptional exchange rate loss observed due to the change in the USD/MAD parity.

The DGA of Taqa Morocco also returned to the fundraising of 6.6 billion dirhams carried out during this period, “on favorable terms,” he said. This lifting allowed Taqa Morocco to repay the financing of the original project of 3.3 billion dirhams, a lifting of restrictions on debt levels and the creation of subsidiaries, as well as an adjustment to the group’s new economic model with the integration issues associated with low-carbon energies.

In addition to these benefits, this significant financing has a significant institutional impact, as it has demonstrated that Taqa Morocco has the capacity to carry out large-scale financial operations, in addition to renewing the confidence of investors and national donors, underlines Omar Alaoui M’ Hamdi.

In terms of the short-term outlook, the group will need to accelerate the deployment of renewable projects and strengthen operational excellence efforts to maintain high levels of availability through digitalized predictive maintenance.

It will also be a matter of capitalizing on Taqa Morocco’s know-how for the development of new projects identified in Morocco. Among these projects, Omar Alaoui M’Hamdi tells us that the leader in electricity production in Morocco has set his sights on the numerous seawater desalination stations that the Moroccan state should launch. “We are waiting for all tenders to be issued before we can participate,” he says.

Several renewable energy and green hydrogen projects are also in the pipeline. The group plans to develop a diversified portfolio of no less than 1,000 MW of additional low-carbon energy capacity.

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