Morocco has entered into a major agreement with Abu Dhabi National Energy Company (TAQA) and Moroccan energy firm Nareva to develop a series of renewable energy and water infrastructure projects valued at 130 billion dirhams (~$14.05 billion).
The development was made known yesterday by the Moroccan electricity and water utility ONEE after signing the deal with the other partners.
The project, set for completion by 2030, encompasses the construction of a 1,400-kilometer high-voltage transmission line with a capacity of 3,000 megawatts, connecting Western Sahara to central Morocco.
ONEE said it would include the development of desalination plants across the country with a combined annual capacity of 900 million cubic meters, and a waterway linking the Sebou River in the northeast to the drought-affected Oum Rabia River in the south.
The consortium will also establish 1,200 MW of new renewable energy capacity and construct a combined-cycle gas power plant at the Tahaddart site in northwestern Morocco, with a capacity nearing 1,500 megawatts.
The projects will be equally owned by TAQA Morocco and Nareva, with the Mohammed VI Investment Fund and other public entities holding a 15% stake, TAQA Morocco said.
The consortium plans to secure both domestic and international financing for these ventures.
The deal follows commitments made during King Mohammed VI’s 2023 visit to the United Arab Emirates, aimed at strengthening Moroccan-Emirati cooperation.
Morocco aims to make renewable 52% of its total installed power capacity by 2030, and this agreement aligns with the country’s strategic objectives.
Morocco’s renewable power capacity currently stands at 5.5GW, representing about 45%.
Last month, Morocco invited investors to bid for new gas turbine power plants with a combined capacity of 300 to 450 megawatts (MW), as part of its broader push to expand renewable energy and strengthen grid reliability.
Earlier this year, ONEE planned to build a 990-megawatt (MW) gas-fired power plant at the cost of $420 million. The project was to be cofunded by ONEE, Attijariwafa Bank, and Bank of Africa.