2023-09-25 21:17:47
The first six months of the current year were mixed for Taqa Morocco. The group achieved a turnover of 7.44 billion DH (MMDH), up 26.1% compared to the same period a year earlier. A performance explained by the increase in energy costs, in line with the increase in the price of coal, explains Omar Alaoui M’Hamdi, deputy general director of Taqa Morocco.
On the other hand, the group’s net profit fell by almost a quarter to 458 million DH. Management explains this decline by the impact of the change in the international coal price benchmark and the exceptional exchange loss observed following the change in the USD/MAD parity.
The DGA of Taqa Morocco also returned to the fundraising of 6.6 billion dirhams carried out during this period, “on advantageous conditions”, according to him. This lifting allowed Taqa Morocco to reimburse the financing of the initial project of 3.3 billion dirhams, a lifting of restrictions on the level of debt and creation of subsidiaries, as well as an alignment with the group’s new economic model with the integration issues linked to low-carbon energies.
In addition to these advantages, this significant financing conceals a significant institutional impact since it has demonstrated that Taqa Morocco has the capacity to carry out large-scale financial operations, in addition to renewing the confidence of investors and national donors, underlines Omar Alaoui M’Hamdi.
Concerning the short-term outlook, the group will have to accelerate the deployment of renewable projects and strengthen operational excellence efforts to maintain a high level of availability through digitalized predictive maintenance.
It will also be a question of capitalizing on the know-how of Taqa Morocco for the development of new projects identified in Morocco. Among these projects, Omar Alaoui M’Hamdi tells us that the leader in electricity production in Morocco has its sights set on the numerous seawater desalination stations that the Moroccan state should launch. “We are waiting for all the calls for tenders that will be launched to be able to participate,” he tells us.
Several projects in renewable energies and green hydrogen are also in the pipeline. The group plans to develop a diversified portfolio of no less than 1,000 MW of additional capacity in the areas of low-carbon energy.
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