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TAQA Morocco Posts 2.2% Revenue Drop in 2025 While Accelerating Diversification into Renewables
TAQA Morocco’s consolidated revenue fell 2.2% in 2025, reaching MAD 10.638 bn, mainly because of a minor overhaul of Unit 6, lower coal‑price trends and a weaker USD/MAD rate. The firm kept a solid operational performance with a 92.1% overall availability. Investments of MAD 265 bn focused on acquiring TAQA Morocco Wind Corp, the Unit 6 revision and maintenance projects, while net debt decreased to MAD 5.293 bn. The group underlines its 2030 low‑carbon roadmap, adding wind capacity, seawater desalination and water‑energy transport infrastructure.
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Financial Highlights for 2025
Revenue: Consolidated turnover fell to MAD 10.638 bn, a 2.2% decline from MAD 10.878 bn in 2024. The decrease reflects the minor overhaul of Unit 6, lower energy margins linked to falling international coal prices, and the adverse impact of the USD/MAD exchange rate.
Q4 2025: Revenue was MAD 2.680 bn, down from MAD 2.744 bn in the same quarter a year earlier.
Investment Activity
TAQA Morocco invested MAD 265 bn in 2025, focusing on:
- Acquisition of TAQA Morocco Wind Corporation (TMWC) to boost wind capacity.
- Minor revision of Unit 6 to improve reliability.
- Projects related to operation and maintenance of existing units.
Debt and Liquidity
Net debt at year‑end was MAD 5.293 bn, down from MAD 5.582 bn, reflecting debt repayments and improved cash balances.
Operational Performance
The company maintained a strong operational record with an overall availability rate of 92.1% across its assets.
Strategic Outlook
TAQA Morocco continues to execute its diversification plan aimed at building a low‑carbon portfolio by 2030. The roadmap includes:
- Development of renewable and flexible generation, notably the 144 MW Boujmil wind project now under construction.
- Seawater desalination facilities.
- Integrated water‑energy transport infrastructure.
These initiatives are expected to position the group as a leading player in Morocco’s transition toward sustainable energy and water solutions.