Taqa Morocco Reports 17% Drop in Net Profit for H1 2025

Mohammedia – Taqa Morocco, a leading operator of the Jorf Lasfar coal-fired power plant, saw its net profit for the first half of 2025 decrease by 17% to MAD 437 million ($48.7 million), down from MAD526 million ($58.6 million) in the same period last year.This drop was primarily due to a decrease in operating income and adverse external factors. 

Consolidated revenue for the first half of 2025 stood at MAD5.3 billion ($590.6 million), marking a 4.8% decrease compared to MAD5.65 billion ($629 million) in the first half of 2024. 

The decline in revenue was mainly attributed to lower energy costs, resulting from a drop in international coal prices from $113 to $108 per ton, and an unfavorable USD/MAD exchange rate.

Operating income also saw a decline, falling to MAD1.25 billion ($139.3 million) from MAD1.41 billion ($157.2 million) in the previous year. 

This reduction was influenced by planned maintenance activities, including a minor revision of Unit 6, which temporarily impacted operational efficiency. 

Despite these challenges, the company maintained a high availability rate for its units, reaching 91.7% in the first half of 2025, slightly down from 94.1% in the same period the previous year.

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On a positive note, Taqa Morocco’s financial structure remained robust, with a gearing ratio improving to 38% as of June 30, 2025, compared to 44% at the same date in 2024. 

The company also reported a significant increase in investments, totaling MAD 210 million ($23.4 million) in the first half of 2025, up from MAD71 million ($7.91 million) in the same period in 2024.

These investments were primarily directed towards the acquisition of Taqa Morocco Wind Corporation (TMWC), minor maintenance of Unit 6, and projects related to the operation and maintenance of the company’s units.

Looking ahead, Taqa Morocco says it remains committed to its strategic focus on sustainable energy transition. 

The company continues to implement its roadmap by diversifying activities around low-carbon solutions, including seawater desalination, renewable energy, natural gas, and low-carbon water and energy transportation. 

These initiatives align with the company’s long-term vision to contribute to Morocco’s energy transition and environmental sustainability.