TAQA Morocco spent 515 million dirhams on investments in the first six months of 2026, up from 210 million dirhams a year earlier. The company is putting more money into desalination, renewable energy, natural gas and low-carbon water and energy infrastructure.
Investment reached 466 million dirhams in the second quarter, compared with 170 million dirhams in the same period last year. The money went mainly to low-carbon projects, a planned minor overhaul of Unit 3 and maintenance work on other units.
Revenue, however, fell during the first half of the year.
TAQA Morocco recorded 5.088 billion dirhams in consolidated revenue by the end of June, down 5.4% from 5.379 billion dirhams a year earlier.
Second-quarter revenue fell by 12.8%, from 2.437 billion dirhams to 2.126 billion dirhams.
The company linked the drop to its maintenance programme and an unfavourable change in the dollar-dirham exchange rate.
The availability of Units 1 to 6 also fell. The rate stood at 86.6% at the end of June, compared with 91.7% a year earlier.
Unit 3 underwent a planned 25-day minor overhaul. Other units also went through inspections during the first half of the year.
TAQA Morocco also cut its net debt by 10.1%. Net debt stood at 4.621 billion dirhams at the end of June, compared with 5.140 billion dirhams a year earlier.
The company linked the reduction to cash generated during the period and debt repayments.
TAQA Morocco is also changing how its business is organised. Its Supervisory Board approved a new structure on 17 July, with different activities placed under specialised subsidiaries.
The group plans to operate as a holding company with four main businesses: desalination, renewable energy, natural gas, and low-carbon water and energy transport networks.
The new structure follows a strategic partnership signed on 19 May 2025 and supports national plans on energy, water and cutting carbon emissions.
