Strategic Partnership Between the Government of Morocco and TAQA Morocco, Nareva, ONEE and the Mohammed VI InvestmentFund to Develop Key Power and Water Infrastructures in the Kingdom of Morocco

As part of the implementation of the commitments made in the joint declaration between His
Majesty King Mohammed VI, may God Assist Him, and His Highness Sheikh Mohamed bin
Zayed Al Nahyan, TAQA Morocco, in partnership with Nareva and the Mohammed VI Fund
for Investment, has signed three memorandums of understanding and related development
agreements with the Government of Morocco and ONEE. These agreements cover the
development of structuring projects in the power, water and renewable energy sectors.
The program aims to strengthen the Kingdom’s water and energy sovereignty through the
development of flexible natural gas-based power generation capacity, seawater desalination
and water transport infrastructure, and a new power transport line between the south and
center of the Kingdom.
Involving a total investment of around 130 billion dirhams by 2030, this partnership will
enable:

• The production of 900 million m³ of desalinated water and the transport of 800
  million m³ through the water highway project.
• The acquisition of the Tahaddart gas-fired power plant (400 MW) and the addition of
  1,100 MW of combined-cycle capacity.
• The development of 1,200 MW of renewable energies under contract with ONEE, as
  well as an HVDC line of around 3,000 MW.
  All of these projects will be equally owned by TAQA Morocco and Nareva, with a 15% stake
  held by Fonds Mohammed VI pour l’Investissement.
  Abdelmajid Iraqui Houssaini, Chairman of the Board of TAQA Morocco:
  “This strategic public / private partnership will contribute to significantly and sustainably
  transform the domestic water and energy landscape in Morocco with the enhancement of
  desalination capacities and water transmission. It reinforcsereinforces the transmission
  network with a higher contribution of gas-fired power generation in Morocco’s baseload to
  increase the integration of renewable energy sources.This important investment programme
  will also accelerate the growth and diversification of TAQA Morocco’s business portfolio.”
  About TAQA Morocco: https://www.taqamorocco.ma/en/group/about

*Source: AETOSWire