RIYADH: TAQA Morocco aims to invest $1.6 billion in renewable energy solutions in Morocco to increase electricity production by 50 percent by 2030.
Owned by Abu Dhabi National Energy Co., the company plans to diversify its activities in clean energy and water desalination as part of its new strategy.
The firm aims to increase its production capacity of electricity from renewable sources by 1,000 megawatts, which will help reduce the carbon footprint by 25 percent.
It also aims to accelerate the activation of its solar project Noor Midelt, which has a capacity of 96 MW.
In the field of wind energy, the company has 100 MW projects in the north of the country as well as a 600 MW project in the pre-development stage in the south of the country.
“The company has been producing electricity from coal only. In 2023, we seek to turn into a platform for power generation from coal, gas, and renewable energies to reduce the carbon footprint,” Abdul Majeed Iraqi Hosseini, chairman of the board, said.
Established in 1997, TAQA Morocco is the first private producer of electricity in the country with six units with a production of 2,056 MW.
