The Moroccan Government and the Moroccan electricity and water utility (ONEE) have signed agreements with a consortium comprising the Mohammed VI Investment Fund and the energy groups TAQA Morocco and Nareva for the development of power, transmission and desalinisation projects in Morocco. According to TAQA Morocco, a subsidiary of the UAE’s TAQA Group, the deals represented a total investment of MAD130bn (US$14bn).
The Memorandums of Understanding (MoUs) notably include the development of a new 3 GW high voltage direct current (HVDC) transmission line, which will run between the South and Centre of Morocco, 1.2 GW of new renewable energy projects, as well as a power purchase agreement between the consortium and ONEE.
In addition, the agreements include the acquisition of an existing 400 MW CCGT power plant in Tahaddart and the development of an additional 1.1 GW of greenfield CCGT projects in the country. Finally, the deals include approximately 2.5 mcm/d of seawater desalination additional projects, as well as 2.2 mcm/d of water transport through water highway projects.
TAQA Morocco and Nareva will each own 42.5% in the projects, with the Mohammed VI Investment Fund and other public stakeholders owning 15%.
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