Rédaction Africa Links 24 with L’Opinion
Published on 2024-03-06 15:16:00
In a global context where the transition to more sustainable energies has become crucial, Taqa Morocco, a pioneering company in electricity production in Morocco, has unveiled its ambitious plans. The company aims to carve out a market share in Europe by exporting green hydrogen, a vital resource in the fight against climate change.
According to Omar Alaoui Mhamdi, Deputy General Manager of Taqa Morocco, Europe is emerging as the largest consumer of green hydrogen, with a projected demand of 10 million tons by the end of the decade. This is a golden opportunity that the company intends to fully seize. With strong infrastructure and a strategic location at the crossroads of continents, Morocco is positioned as a potential supplier to meet this growing demand.
Taqa Morocco’s Expertise:
Deeply rooted in the Moroccan energy landscape, Taqa Morocco is the first private electricity production company, holding an 85% majority stake in the Abu Dhabi National Energy Company (Taqa). With the largest coal-fired power plant in Africa and the Middle East, the company has committed to transitioning to renewable energies, with a $1.6 billion investment announced last year.
Omar Alaoui Mhamdi highlighted in a recent interview with Bloomberg that Morocco has all the necessary assets to become a major player in green hydrogen production. A 70,000-hectare site in the Dakhla-Oued Ed-Dahab region is being considered to accommodate this large-scale project. However, the official announcement depends closely on government policy regarding green hydrogen, which is currently being developed.
Towards a Growing Demand for Electricity:
Despite a slight decrease in net profits last year, Taqa Morocco is banking on an increase in electricity demand, driven by infrastructure projects and investments related to the 2030 World Cup. The Deputy General Manager expects profits to stabilize at 1.3 billion dirhams in the coming years.
In addition to its ambitions in the energy sector, Taqa Morocco is also involved in seawater desalination projects, in line with government plans to address the growing water stress in the Kingdom.
Read the original article(French) on L’Opinion
