TAQA Morocco targets to fund USD1.6bn in renewable energy within 2030

2023-03-09 03:05:52

(MENAFN) TAQA Morocco targets to fund USD1.6 billion in renewable energy solutions in Morocco to surge electricity output by 50 percent within the end of this decade.

Possessed by Abu Dhabi National Energy Co., the firm targets to diversify its actions in clean energy and water desalination as part of its additional plan.

The company target to rise its output volume of electricity from renewable sources by 1,000 megawatts, which is going to support decrease the carbon footprint by 25 percent.

It also targets to quick the operation of its solar venture Noor Midelt, which has a volume of 96 MW.

In the sector of wind energy, the firm has 100 MW ventures in the north of the nation in addition to a 600 MW venture in the pre-development phase in the south of the nation.

“The company has been producing electricity from coal only. In 2023, we seek to turn into a platform for power generation from coal, gas, and renewable energies to reduce the carbon footprint,” Abdul Majeed Iraqi Hosseini, chairman of the board, stated.

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