TAQA Morocco is changing the way it is organised as it prepares to expand beyond electricity generation.
The company’s Supervisory Board has approved a plan to split its activities into specialised subsidiaries. Each subsidiary will manage a specific business or group of assets.
The new structure is meant to help TAQA Morocco grow into a multi-asset energy company and support the country’s energy transition.
The group plans to invest in low-carbon power, renewable energy, green hydrogen, seawater desalination, and water and electricity transmission infrastructure.
Under the new model, TAQA Morocco will become a holding company. It will oversee its subsidiaries and manage the group’s overall strategy.
The first step will cover Units 1 to 4 at the Jorf Lasfar thermal power plant. All assets, rights and obligations linked to these units will move to Jorf Lasfar Energy Company 1-4, a Moroccan subsidiary fully owned by TAQA Morocco.
The company’s equity will remain on TAQA Morocco’s balance sheet.
TAQA Morocco said it will announce when the transfer is completed.
The company supplies about 34% of the country’s electricity demand and owns 17% of the installed electricity generation capacity.
