Company: TAQA Morocco
Country: Morocco
Sector: Electric Utilities
CEO: Not publicly listed
Website: Not publicly listed
Careers Page: Not publicly listed
LinkedIn: Not publicly listed
Email: Not publicly listed
Headquarters: Casablanca, Morocco
Founded: Not publicly listed
Valuation/Revenue: $1,117.4m revenue / $5,658.4m market value (African Business Top 250, 2025)
TAQA Morocco is an independent power producer that operates the large Jorf Lasfar power complex, one of Morocco’s principal electricity-generation sites, selling electricity under long-term contract to Morocco’s national utility. The company was previously known as Jorf Lasfar Energy Company (JLEC) before being rebranded to reflect its majority shareholder, Abu Dhabi National Energy Company (TAQA).
What Does TAQA Morocco Do?
TAQA Morocco generates electricity at the Jorf Lasfar power station on Morocco’s Atlantic coast, one of the country’s largest thermal power complexes, built up over multiple generating units. As an independent power producer (IPP), it sells the electricity it generates to Morocco’s national electricity and water utility (ONEE) under a long-term power purchase agreement, a structure common to large-scale IPPs across Africa where a state utility acts as the primary offtaker. This model gives TAQA Morocco relatively predictable, contracted revenue streams, in contrast to merchant power generators exposed to spot electricity markets.
How Big Is TAQA Morocco?
African Business’s Top 250 (2025) recorded TAQA Morocco’s revenue at approximately $1,117.4 million, with a market value of roughly $5,658.4 million — a market value substantially larger than its annual revenue, consistent with the capital-intensive, long-duration contracted nature of power-generation assets, which investors often value on discounted future cash flows from multi-decade offtake agreements rather than a simple revenue multiple.
Who Owns TAQA Morocco?
The company’s controlling shareholder is Abu Dhabi National Energy Company (TAQA), a major Emirati state-linked energy group with power and water assets across multiple continents, which took majority control of the Jorf Lasfar power complex and subsequently renamed the business TAQA Morocco. The company is also listed on the Casablanca Stock Exchange, giving it a public shareholder base alongside its Emirati parent.
Is TAQA Morocco Publicly Traded?
Yes. TAQA Morocco is listed on the Casablanca Stock Exchange, making it one of the exchange’s larger utility and infrastructure stocks by market value, reflecting investor appetite for long-dated, contracted power-generation cash flows in a market with limited pure-play utility listings.
Where Is TAQA Morocco Headquartered?
The company’s corporate offices are based in Casablanca, Morocco, while its principal generating assets are located at Jorf Lasfar, a major industrial port and energy hub on Morocco’s Atlantic coast that also hosts phosphate-processing and other heavy industry.
What Has TAQA Morocco Been in the News For Recently?
As Morocco pursues an ambitious renewable-energy transition — targeting a majority-renewable electricity mix in the coming years through large-scale solar and wind programmes — coal- and gas-fired IPPs such as TAQA Morocco’s Jorf Lasfar complex have faced increasing scrutiny over their long-term role in the country’s generation mix, alongside broader discussions about decarbonising thermal assets and Morocco’s energy transition financing needs. The company’s scale and contracted revenue base nonetheless keep it central to Morocco’s near-term electricity security.
Links
Website: Not publicly listed
Careers Page: Not found
LinkedIn: Not found
Email: Not publicly listed
FAQ
What does TAQA Morocco do?
It generates electricity at the Jorf Lasfar power complex and sells it to Morocco’s national utility under long-term contract.
Who owns TAQA Morocco?
Its majority shareholder is Abu Dhabi National Energy Company (TAQA), with the remainder publicly traded on the Casablanca Stock Exchange.
Is TAQA Morocco a public company?
Yes, it is listed on the Casablanca Stock Exchange.
Where is TAQA Morocco based?
Its head office is in Casablanca, with generating assets at Jorf Lasfar.
What was TAQA Morocco previously called?
Jorf Lasfar Energy Company (JLEC), before being rebranded after TAQA became its controlling shareholder.
How big is TAQA Morocco?
African Business’s 2025 Top 250 recorded roughly $1.12 billion in revenue and a market value near $5.66 billion.