Taqa Morocco. Half-year results in the green

During the first half of 2022, Taqa Morocco recorded an increase in turnover to 5906 MDH, against 3465 MDH as of June 30, 2021 and a net production in GWh of 7443 GWh compared to 7289 GWh during the same period of last year. The group refers this to the sharp increase in energy costs in line with the evolution of the price of coal on the international market.

“The results for the first half of 2022 confirm the strength of the business model of TAQA Morocco, which celebrated its 25th anniversary on September 12, 2022. The performance of this first half confirms TAQA Morocco in its trajectory of consolidating its fundamentals and diversifying its portfolio to support the low-carbon strategy of the Moroccan energy mix.” commented Abdelmajid Iraqui Houssaini, Chairman of the Board of TAQA Morocco.

Other revealing figures: the increase in the overall availability rate for units 1 to 6 to 92.7% compared to 89.4% as of June 30, 2021 and the increase in net income group share of 36.4% compared to the same period of Last year. Also, the group recorded growth in energy costs in line with the rise in the price of coal on the international market and in a competitive dynamic compared to the benchmark index. We also note an increase in operating income to 1,470 MDH against 1,077 MDH as of June 30, 2021 and an evolution of the operating margin rate from 31.1% as of June 30, 2021 to 24.9% as of June 30, 2022.

For the group, the first half of the current year was marked by the awarding of 5 lots as part of the call for projects for the Noor PV II multi-site solar program, with a potential of 96 MW on the sites of Sidi Bennour and Kelaat Sghrana.

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In terms of prospects, Taqa Morocco intends to continue the dynamic of diversifying its portfolio with an ambition to reduce carbon intensity by 25% by 2030.

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