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Rabat – Moroccan energy company Taqa Morocco reported a consolidated revenue of MAD 7.95 billion ($ 860 million) between January and September 30 of this year, marking a slight decline compared to the same period in 2024.
The company attributed the decline to a combination of factors, including strong operational output from its first six generating units, the deployment of its maintenance plan, lower energy costs tied to falling global coal prices, and the adverse impact of the USD/MAD exchange rate.
As part of its maintenance program, Taqa Morocco carried out a minor overhaul of Unit 6 lasting 25 days, along with inspections on Units 1, 3, 4, and 5. Despite these planned interventions, the overall availability rate for the nine months reached 91.9%, slightly below 92.7% in the same period of 2024. In the third quarter alone, availability improved to 92.5%, up from 89.8% in Q3 2024, reflecting the effectiveness of the company’s operational and maintenance strategies.
The third quarter also saw consolidated revenue rise to MAD 2.578 billion ($ 280 million) from MAD 2.483 billion in Q3 2024, supported by higher availability and robust operational performance.
Operating profit for the nine months stood at MAD 1.829 billion ($ 198 million), while net profit attributable to the group reached MAD 681 million ($74 million), compared with MAD 756 million in the prior year.
Read also: Taqa Morocco Reports 17% Drop in Net Profit for H1 2025
Taqa Morocco invested MAD 225 million ($24 million) in Q3, primarily for the acquisition of its wind subsidiary Taqa Morocco Wind Corporation (TMWC), the minor overhaul of Unit 6, and other operational and infrastructure projects.
The company’s net debt rose to MAD 5.852 billion ($633 million) by the end of September, in line with cash flow generation and scheduled debt repayments.
Looking ahead, Taqa Morocco is working toward advancing its diversification strategy, aiming for a total capacity of 8,696 MW by 2030.
This includes 1,800 MW of flexible, low-carbon power, 4,840 MW of renewable energy, a 900 million m³ seawater desalination plant, 800 million m³ of water transport capacity, and 1,400 km of transmission lines capable of transporting 3,000 MW of green energy.
