TAQA Morocco says it is pushing ahead with a big shift into renewable energy and water projects after posting solid results for 2025, even though profits dipped slightly.
The company made 10.6 billion dirhams in revenue and 1.27 billion dirhams in net profit. Its operating margin stayed strong at about 23%. The year included major maintenance work and changing operating conditions.
Electricity production reached nearly 14,500 GWh and plant availability was above 92%. The company continued using predictive maintenance tools at the Jorf Lasfar power plant, the largest coal power station in the MENA region.
Net debt dropped to just over 5.2 billion dirhams after repayments, and the gearing ratio improved to 38%.
Zakaria Fafouri, CFO and member of the management board, said the results show the company is stable during the energy transition.
He said: “TAQA Morocco confirmed in 2025 the robustness of its business model with a high availability rate of 92.1% which denotes the industrial excellence of the teams and operational efficiency.
“The accounts as of December 31, 2025, will show a consolidated turnover of 10.6 billion dirhams, an EBITDA of 3.2 billion dirhams, and a net result of 1.3 billion dirhams. These indicators confirm the stability of the performance of the TAQA Morocco group in an energy transition environment.”
Fafouri described 2025 as a turning point for the company. “We have started the construction of our BougeMille project. This project will contribute to the increase of the installed capacity of renewable energy in our country.”
He said the company is also moving forward with green hydrogen. “We are also advancing on the green hydrogen project with our partner Moeve. This is a reflection of a vision: to make TAQA Morocco a responsible, integrated, and fully committed player in the Water & Energy nexus.”
TAQA Morocco wants to become a company that produces both power and water by 2030. Its plan includes gas projects, desalination plants, water transfer systems and more renewable energy.
The move supports Morocco’s goal of getting more than 52% of its electricity from renewables by 2030 and tackling long-term drought.
Using renewable energy to run desalination plants is expected to cut emissions while helping solve water shortages.
The partnership with Moeve is part of Morocco’s plan to export green hydrogen to Europe.
TAQA Morocco is also looking at low-carbon energy platforms that could host data centres powered by renewable energy, aiming to tap into growing demand for greener digital infrastructure.
