In 2024, TAQA Morocco didn’t just generate electricity. It generated momentum. Toward a cleaner, smarter, and more resilient energy future. The country’s leading private electricity producer continued its evolution toward a more diversified, digitalized, and sustainable energy model. Backed by a 2030 roadmap, the company is firmly positioning itself as a key player in Morocco’s energy transition, while maintaining top-tier industrial performance.
The company closed the year with revenues of MAD 10.87 billion, down 17.5% from 2023—primarily due to a 13% drop in global coal prices. Still, core indicators showed resilience: EBITDA reached MAD 3.45 billion, net consolidated profit stood at MAD 1.37 billion, and net profit attributable to shareholders grew slightly to MAD 1.05 billion. The net debt/EBITDA ratio remained stable at 1.6x, underlining TAQA Morocco’s sound financial footing.
TAQA Morocco sustained a 93% availability rate across its facilities, placing it in the global top decile. The company continued to build on predictive maintenance strategies, leveraging its advanced monitoring center and AI-powered COPILOT assistant. Digital transformation was further accelerated through the “Digital Champions” initiative, Maximo HSE platform, and a robust “Zero Trust” cybersecurity strategy.
TAQA Morocco is turning ambition into action. Two flagship projects took center stage in 2024: the Boujmil wind farm (100 MW), now fully operational, and Noor PV II (96 MW), currently under development. By 2030, the goal is to cut carbon intensity by 25% and add 1,000 MW of renewable capacity.
Transformation at TAQA Morocco goes beyond infrastructure. The “TAQA Morocco WAY” leadership model emphasizes people, ethics, and impact. The company is fostering a new generation of leaders aligned with corporate values and committed to agile, inclusive performance.
In 2024, TAQA Morocco delivered over 53,000 hours of employee training, recycled 91% of its industrial waste, and reached more than 20,000 beneficiaries through its social impact program “TAQA Morocco for Community,” which supports education, healthcare, and environmental initiatives.
As Morocco aims to achieve 52% renewables in its energy mix by 2030, TAQA Morocco stands as a cornerstone of this transition. Its multi-asset operational model, proven ability to deliver complex infrastructure, and industrial legacy make it a vital player in securing the Kingdom’s energy independence.
