Strategic Partnership Between the Government of Morocco and TAQA Morocco, Nareva, ONEE and the Mohammed VI Investment Fund to Develop Key Power and Water Infrastructures in the Kingdom of Morocco

20.5.2025 21:08:00 CEST | Business Wire | Press Release

As part of the implementation of the commitments made in the joint declaration between His Majesty King Mohammed VI, may God Assist Him, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, TAQA Morocco, in partnership with Nareva and the Mohammed VI Fund for Investment, has signed three memorandums of understanding and related development agreements with the Government of Morocco and ONEE. These agreements cover the development of structuring projects in the power, water and renewable energy sectors.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250520313620/en/

Strategic Partnership Between the Government of Morocco and TAQA Morocco, Nareva, ONEE and the Mohammed VI Investment Fund to Develop Key Power and Water Infrastructures in the Kingdom of Morocco (Photo: AETOSWire)

The program aims to strengthen the Kingdom's water and energy sovereignty through the development of flexible natural gas-based power generation capacity, seawater desalination and water transport infrastructure, and a new power transport line between the south and center of the Kingdom.

Involving a total investment of around 130 billion dirhams by 2030, this partnership will enable:

The production of 900 million m³ of desalinated water and the transport of 800 million m³ through the water highway project.
The acquisition of the Tahaddart gas-fired power plant (400 MW) and the addition of 1,100 MW of combined-cycle capacity.
The development of 1,200 MW of renewable energies under contract with ONEE, as well as an HVDC line of around 3,000 MW.

All of these projects will be equally owned by TAQA Morocco and Nareva, with a 15% stake held by Fonds Mohammed VI pour l'Investissement.

Abdelmajid Iraqui Houssaini, Chairman of the Board of TAQA Morocco:
“This strategic public / private partnership will contribute to significantly and sustainably transform the domestic water and energy landscape in Morocco with the enhancement of desalination capacities and water transmission. It reinforces the transmission network with a higher contribution of gas-fired power generation in Morocco's baseload to increase the integration of renewable energy sources. This important investment programme will also accelerate the growth and diversification of TAQA Morocco’s business portfolio.”

About TAQA Morocco: https://www.taqamorocco.ma/en/group/about

*Source: AETOSWire

View source version on businesswire.com: https://www.businesswire.com/news/home/20250520313620/en/

Contacts

Press contact:
Laila Bouchourl
laila.bouchourl@taqamorocco.ma

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Venture Global Announces Closing of $2.25 Billion of Senior Secured Notes11.6.2026 23:00:00 CEST | Press Release

Venture Global LNG, Inc. (“Venture Global”) announced today that its wholly-owned subsidiary, Venture Global LNG, Inc. (the “Issuer”) has closed its offering of $1.125 billion aggregate principal amount of its 6.375% senior secured notes due 2034 (the “2034 Notes”) and $1.125 billion aggregate principal amount of its 6.625% senior secured notes due 2036 (the “2036 Notes” and, together with the 2034 Notes, the “Notes”). The Issuer used the gross proceeds from the offering to redeem all of the Issuer’s outstanding 8.125% senior secured notes due 2028 (the “Existing 2028 Notes”) and used cash on hand to pay the redemption premium and related fees and expenses for the offering and the redemption. The 2034 Notes will mature on December 15, 2034, and the 2036 Notes will mature on June 15, 2036. The Notes were issued at par. The Notes will initially not be guaranteed by any of the Issuer’s subsidiaries. In the future, certain of the Issuer’s subsidiaries that incur or guarantee certain amount

Venture Global and Atlantic-SEE Announce Expansion of Long-Term LNG Sales and Purchase Agreement with Greece11.6.2026 22:30:00 CEST | Press Release

Today, Venture Global, Inc. (NYSE: VG) and ATLANTIC – SEE LNG TRADE S.A. of Greece announced an expansion of their existing Sales and Purchase Agreement (SPA) for the purchase of U.S. liquefied natural gas (LNG) from Venture Global for twenty years starting in 2030. Under the deal, Atlantic-SEE is doubling their existing contract with Venture Global from a minimum of 0.5 million tonnes per annum (MTPA) to 1.0 million tonnes per annum (MTPA). Atlantic-SEE LNG is a newly formed joint venture announced in November at the 6th Partnership for Transatlantic Energy Cooperation (PTEC) conference hosted in Athens, Greece between Greek companies AKTOR Group and DEPA Commercial. The announcement of this expanded supply agreement follows Venture Global’s previously announced investment in regasification capacity at the Alexandroupolis LNG import terminal in Greece, which currently accounts for approximately 25% of the terminal’s total capacity. The Alexandroupolis LNG FSRU receiving terminal and S

Merrithew ® Expands Global Mindful Movement Leadership with Acquisition of the GYROTONIC ® Organization11.6.2026 17:30:00 CEST | Press Release

Merrithew®, a global leader in mindful movement education and equipment and creator of internationally recognized programs including STOTT PILATES®, ZEN•GA®, Halo® Training and Total Barre®, today announced the acquisition of the GYROTONIC® organization, creator of the globally respected GYROTONIC® and GYROKINESIS® methods. Founded by Juliu Horvath, the GYROTONIC® and GYROKINESIS® methods are internationally recognized for their distinctive approach to movement, combining fluidity, strength, mobility, coordination, and rehabilitation through specialized equipment and movement sequences. Practiced in studios and wellness centers worldwide, the methods have cultivated a deeply loyal global community of instructors, trainers, therapists, and movement professionals. The acquisition marks a significant milestone in Merrithew International Inc.’s growth strategy and reflects Merrithew’s commitment to growing the rapidly expanding global mindful movement category. The addition of the GYROTONI

GigaDevice Expands Optical Communication Portfolio with New GD32E512 and GD32E252 Series MCUs for Optical Modules11.6.2026 16:00:00 CEST | Press Release

GigaDevice, a leading semiconductor company specializing in Flash memory, 32-bit microcontrollers (MCUs), sensors, and analog products, has introduced the new GD32E512 and GD32E252 series MCUs specifically designed for optical module applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260611850679/en/ Empowering Optical Interconnect Innovation, GigaDevice Unveils Dedicated MCUs for Optical Modules. As a leading supplier of MCUs for optical module applications, GigaDevice has maintained a strong focus on the optical communication market, continuously aligning its product development with evolving industry requirements and next-generation optical interconnect technologies. Leveraging years of expertise in optical module control solutions, GigaDevice has established a strong position in the market through continuous innovation and close collaboration with industry partners. To further support the advancement of high-sp

Saudi Arabia at the Center of the Global Water Industry as IDWS 2026 Reshapes the Future of Water11.6.2026 15:47:00 CEST | Press Release

In an increasingly resource-constrained world, water has become critical to both economic growth and national security, driving demand for global leadership in sustainability, innovation, and water solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260611388456/en/ Saudi Arabia at the Center of the Global Water Industry as IDWS 2026 Reshapes the Future of Water (Graphic: AETOSWire) The Saudi Water Authority has announced the return of the Innovation Driven Water Sustainability Conference (IDWS), taking place from 7 to 9 December 2026 at The Ritz-Carlton, Jeddah, as the Kingdom consolidates its position at the center of the global water conversation. As home to one of the world’s most advanced and rapidly evolving water management ecosystems, Saudi Arabia currently operates more than 500 water production facilities across the Kingdom with total water production capacity exceeding 16.2 million cubic meters per day. The

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom