TAQA Morocco's Investment in Renewable Energy
On November 3, 2026, TAQA Morocco, a subsidiary of the Emirati energy giant TAQA, unveiled plans to diversify its energy portfolio by securing financing for the initial phase of its Boujmil wind farm in northern Morocco. This first phase, which has a capacity of 96 megawatts (MW), represents a substantial investment of approximately 1.3 billion dirhams, equivalent to $133 million. The anticipated commencement of electricity production is set for the latter half of 2027, marking a significant milestone in Morocco's commitment to renewable energy.
The financial backing for this green project has been made possible through the collaboration of four prominent Moroccan banks: Banque Centrale Populaire, Attijariwafa Bank, Bank of Africa, and Saham Bank. This financing deal not only underscores Morocco's push towards sustainable energy solutions but also demonstrates TAQA Morocco's strategic shift from traditional coal-fired power generation to greener energy sources. Upon completion, the Boujmil wind farm is projected to reach a total capacity of 144 MW, which has the potential to supply electricity to approximately 120,000 households, significantly contributing to local energy demands.
TAQA Morocco's Transition Towards Sustainable Energy
Founded in 1997, TAQA Morocco has established itself as a key player in the electricity sector, primarily through its coal-powered Jorf Lasfar power plant, which boasts a combined capacity of 2,056 MW and supplies around 34% of the country's electricity needs. However, the recent announcement regarding the Boujmil wind farm reflects the company's broader strategy to adapt and diversify its energy sources. Notably, in March 2026, TAQA Morocco revealed its plans to pursue investments in green hydrogen, electricity transmission, and seawater desalination, indicating a comprehensive approach to sustainable energy development.
This strategic pivot aligns with the overarching transformation of Morocco's electricity sector. As per official statistics, renewable energy accounted for 46.1% of the country's installed electricity generation capacity by the end of 2025. Despite these advancements, it is noteworthy that coal still contributed to 60% of Morocco's electricity production in 2024, as reported by the National Electricity Regulatory Authority (ANRE). This highlights the ongoing transition within the energy landscape, as Morocco seeks to balance its energy portfolio while addressing environmental concerns.
As reported by ecofinagency.com.
