TAQA Morocco ended 2025 with a small fall in revenue but kept solid operations while moving faster into low-carbon energy.
The company made 10.6 billion dirhams in revenue, down 2.2% from 2024. The drop was due to a planned technical check on Unit 6, swings in coal prices, and an unfavourable dollar-to-dirham rate. Still, its plants stayed mostly up and running, with a 92.1% availability rate, slightly lower than last year.
Operating profit fell to 3.2 billion dirhams, and net income was 981 million dirhams, down from over one billion in 2024. The profit margin stayed strong at around 23%, showing the company controlled costs well despite tougher conditions.
Debt stayed low, with a net debt-to-EBITDA ratio of 1.7, leaving room for investment in upcoming projects.
2025 also saw a faster push into green energy. Work started on the 144-megawatt Boujmil wind farm, with financing expected to be ready by mid-2026. The company set up four new subsidiaries for low-carbon power, energy and water transport, desalination, and its usual thermal energy business, covering the full energy and water chain.
The green hydrogen project is moving ahead. A partnership with Moeve signed land deals and began studies to produce green ammonia and industrial fuels. The company also strengthened international partnerships, including with UK Export Finance and the Japan Bank for International Cooperation, to secure funding for future energy projects.
On social and environmental work, TAQA Morocco aims to cut its carbon intensity by 25% by 2030. Efforts also include water management, protecting nature, staff training, and social programmes helping over 20,000 people.
The board has proposed a dividend of 38 dirhams per share, up 3% from last year.
