Morocco, UAE Join Forces in $13 Billion Landmark Energy, Water Partnership
A powerful consortium including the Mohammed VI Investment Fund, TAQA Morocco, and NAREVA formalized today three agreements with the Moroccan government and the National Office of Electricity and Water (ONEE).
According to a statement from TAQA Morocco, the initiative stems from a joint declaration between King Mohammed VI and UAE President Sheikh Mohamed bin Zayed Al Nahyan signed in December 2023.
In a context marked by 'the urgent need to implement the water and energy roadmaps,' the statement said the 'partnership will be implemented in an accelerated timeframe, with an investment of nearly MAD 130 billion ($13 billion) by 2030.'
The strategic program materializes this partnership, aiming to 'boost Morocco's water sovereignty and the resilience of the national network of electricity transportation.'
The statement explained that the program not only works towards enhancing water desalination capacities, but also natural gas-based electricity, and boosting renewable energy integration in the network.
For water security, the program will construct transfer infrastructure between major river basins, moving 800 million cubic meters annually to water-stressed regions.
Meanwhile, new desalination plants powered entirely by renewable energy will add 900 million cubic meters of fresh water capacity each year.
Energy infrastructure forms an equally important component. A massive 1,400-kilometer high-voltage transmission line will connect southern and central Morocco, carrying 3,000 MW of electricity.
Read also: Morocco, UAE Sign Joint Declaration to Boost 'Renewed, Deep-Rooted' Ties
This will enable the country to better utilize renewable resources from its sun-rich southern regions.
The consortium will also develop 1,200 MW of new renewable energy capacity while also building flexible gas-powered plants in Tahaddart with approximately 1,500 MW capacity.
This balanced approach aims to guarantee both Morocco's energy security and environmental sustainability.
The partnership extends beyond physical infrastructure. The program will create over 25,000 jobs, including 10,000 permanent positions, while driving technology transfer and industrial development. Local manufacturing capacity in the desalination and renewable energy sectors will grow significantly as a result, TAQA Morocco adds.
'These projects will be equally owned by TAQA Morocco and Nareva, with the Mohammed VI Fund for Investment and other public players holding a 15% stake,' the statement concluded.
Morocco's collaboration with the UAE further shows its dedication to engaging in regional partnerships to address complex challenges through shared expertise, investment, and vision, creating a model for sustainable development across North Africa and the Middle East at large.
Read also: Morocco, UAE Expand Security Cooperation with New Agreement Tags: ONEETaqa MoroccoWater and EnergyWater sovereignty
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