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Agadir – Taqa Morocco and the Japan Bank for International Cooperation (JBIC) have signed a memorandum of understanding (MoU) to explore financing opportunities for energy, water, and infrastructure projects that the Moroccan group plans to develop by 2030.
The MoU focuses on potential JBIC participation in funding projects that will help Taqa Morocco diversify and decarbonize its portfolio, while contributing to the national roadmap for sustainable development.
Through this partnership, Taqa Morocco will gain access to competitive financing terms and tailored repayment schedules, aimed at accelerating the implementation of strategic projects that are crucial to strengthening the country’s energy and water infrastructure and supporting economic growth.
Hiroyuki Suzuki, General Manager of JBIC’s New Energy and Power Finance Department II, talked about the broader regional and bilateral impact. “Strengthening JBIC’s partnership with Taqa Morocco will consolidate bilateral relations between Japan and Morocco and support the activities of Japanese companies in the Kingdom of Morocco while contributing to the country’s energy transition and sustainable development,” Suzuki stated.
“Building on the close and long-standing relationship between Japan, Morocco, and the UAE, JBIC aims to foster enhanced strategic collaboration on energy security in the MENA region through solutions offered by Japanese companies,” he added.
Abdelmajid Iraqui Houssaini, CEO and Chairman of Taqa Morocco, touched upon the significance of the partnership for the company’s sustainability and competitiveness initiatives.
“Taqa Morocco is on the right track to sustainably transform its energy production capacities in order to reduce its carbon intensity and support the climate roadmap and industrial competitiveness of the Kingdom of Morocco,” he said
He added that “JBIC’s contribution to financing these projects would be a major asset, given its experience in the national context, particularly through the multi-currency financing of the Jorf Lasfar 5 and 6 power plant construction project, amounting to $1.4 billion.”
This collaboration will extend Morocco’s energy and infrastructure development, support the country’s climate objectives, and strengthen the strategic partnership between Japanese investors and Moroccan enterprises.
