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Japan’s JBIC Teams Up with TAQA Morocco to Finance Strategic Energy, Water and Infrastructure Projects through 2030
TAQA Morocco and Japan's development bank JBIC have signed a Memorandum of Understanding to explore financing for a series of strategic electricity, water and infrastructure projects slated for completion by 2030. The partnership aims to support Morocco’s decarbonisation goals, diversify TAQA’s portfolio, and provide competitive, long‑term financing that aligns with the country’s sustainable development roadmap.
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Agreement Overview
On 24 January 2026, TAQA Morocco and the Japan Bank for International Cooperation (JBIC) signed a Memorandum of Understanding (MoU) to explore financing opportunities for a series of strategic projects slated for completion by 2030. The focus areas include electricity generation, water supply, and critical infrastructure development.
Strategic Objectives
The MoU aims to assess JBIC’s potential participation in funding initiatives that will support Morocco’s decarbonisation agenda and diversify TAQA Morocco’s activity portfolio. By aligning with the Kingdom’s sustainable development roadmap, the partnership seeks to deliver projects that boost national economic competitiveness in the energy, water and infrastructure sectors.
JBIC’s Perspective
Hiroyuki Suzuki, General Manager of the New Energy and Power Finance Department II at JBIC, highlighted that the collaboration will strengthen Japan‑Morocco bilateral ties, foster Japanese business activity in the Kingdom, and contribute to the country’s energy transition and sustainability goals. He added that, building on long‑standing relations among Japan, Morocco and the United Arab Emirates, JBIC intends to promote greater strategic cooperation on MENA energy security through Japanese solutions.
TAQA Morocco’s View
Abdelmajid Iraqui Houssaini, Chairman of the Board of TAQA Morocco, reaffirmed the group’s commitment to transform its energy assets, lower carbon intensity and support Morocco’s climate roadmap and industrial competitiveness. He noted that JBIC’s financing expertise – exemplified by the multi‑currency project‑finance loan of $1.4 billion for Jorf Lasfar Units 5 & 6 – would be a valuable asset for the upcoming projects.
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