TAQA Morocco extends the contract of the Jorf Lasfar power plant for an additional 17 years

TAQA Morocco extends the contract of the Jorf Lasfar power plant for an additional 17 years
STADLAND GERMANY MARCH 21 Electricity pylons stand in a row leading to the Unterweser nuclear power plant on March 21 2011 near Stadland Germany The Unterweser plant is among seven nuclear power reactors built before 1980 that the government of German Chancellor Angela Merkel has chosen to shut down for three months for a heightened safety and security review following the disaster at the Fukushima plant in Japan Merkel is fending off criticism for the move which represents a radical reversal of her governments previous policy citing new circumstances due to the Fukushima meltdown Nuclear power has long been a highly charged controversial topic in Germany and opponents are seizing on the new political climate to push for a rapid abandonment of nuclear energy Photo by Sean GallupGetty Images
Published: 27 January 2020 - 11:33 a.m.
By: Baset Asaba

TAQA Morocco, a publicly listed company on the Casablanca Stock Exchange, signed on January 24, 2020 with Morocco's National Office for Electricity and Drinking Water (ONEE) to extend the Power Purchase Agreement of the Jorf Lasfar Units 1- 4 for 17 years from 2027 to 2044.

The Jorf Lasfar thermal power plant totals an overall capacity of 2,056 megawatts, helping to meet more than 40 percent of Morocco’s electricity needs. Bringing together these contracts will continue to allow TAQA Morocco to further support Morocco’s growing economy through the reliable and secure supply of electricity.

“We are proud to be a reliable and strategic partner to the Moroccan government. Our investment in Morocco further underscores our commitment to investing in and deploying best-in-class solutions across our business,” said H.E. Saeed Mubarak Al Hajeri, Chairman of Abu Dhabi National Energy Company - TAQA.

“The extension of the PPA in Morocco speaks to the strong expertise and technical capabilities of our in-country team and will allow us to build upon our successes in Morocco as we continue to explore opportunities across our power and water business,” said Saeed Hamad Al Dhaheri, CEO Abu Dhabi National Energy Company - TAQA.

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