TAQA, Nareva, and Mohammed VI Fund to Develop 1.2 GW Renewables and 3 GW Transmission Line in Morocco

Published: May 30, 2025 16:31

Save

TAQA Morocco, part of Abu Dhabi National Energy Company (TAQA), has partnered with Moroccan energy firm Nareva and the Mohammed VI Fund for Investment to develop 1.2 GW of renewable energy projects and related transmission infrastructure. This initiative is based on a Memorandum of Understanding (MoU) signed with the Moroccan government and the National Office of Electricity and Drinking Water (ONEE).

The agreement includes the construction of new renewable energy plants and a high-voltage direct current (HVDC) transmission line with a capacity of 3 GW. All projects are part of a broader plan to boost Morocco's energy and water sovereignty.

TAQA Morocco and Nareva will each hold equal ownership in the projects, while the Mohammed VI Fund will retain a 15% stake. These efforts are among three agreements totaling MAD 130 billion (USD 14.09 billion) in investments for energy and desalination projects by 2030.

Market review

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

[SMM PV News] Waaree Energies Approves INR 39B for Solar Glass Plant and Ups Stake in Subsidiary

Waaree Energies has greenlit an INR 39 billion capital expenditure to build a solar glass manufacturing facility with a 2,500 MT per day capacity via its subsidiary, Waaree Green Glass. Additionally, the company's board approved an INR 1.9 billion cash acquisition to increase its equity stake in Waaree Transpower (formerly Kotsons) from 64.04% to 75.10%. Expected to close by June 2026, this move aims to fund capacity expansion for the subsidiary's advanced transformer solutions and further vertically integrate Waaree's supply chain.

1 hour ago

2 hours ago

[SMM PV News] South Korea Targets 2,500 'Sunlight Income Villages' by 2030

South Korea's 'MOIS' has launched a national drive to establish community-owned solar cooperatives, targeting 2,500 'Sunlight Income Villages' by 2030. Under the program, communities will install 300 kW to 1 MW plants on idle land to share revenues among residents. The government is offering long-term, low-interest loans covering up to 85% of costs from a KRW 450 billion renewable energy fund in 2026. To overcome grid bottlenecks, the initiative grants projects priority grid access and 'ESS' installation support, while mandating the use of domestically produced modules and inverters.

2 hours ago

[SMM PV News] Saudi Arabia Adds 7.8 GW of Solar in 2025

Saudi Arabia installed a record-breaking 7.8 GW of solar capacity in 2025, bringing its cumulative solar total to an estimated 12.4 GW. While this cements solar as the nation's dominant renewable source, analysts at 'GlobalData' warn the current growth trajectory falls short of the 130 GW required by the 'Vision 2030' target, which demands over 23 GW of annual additions. To close this gap, experts urge the kingdom to implement standardized 'PPAs', streamline permitting, and heavily invest in grid flexibility and solar-plus-storage. Notably, the Saudi Power Procurement Company recently signed a massive 15 GW renewable energy deal (including 12 GW of solar) to accelerate future deployment.

2 hours ago