Energy
TAQA Morocco spends €138m to extend its electricity supply contract

TAQA Morocco spends €138m to extend its electricity supply contract

While the right-of-use of the power plant has been extended for around ten years, the fund-raising required to pay for the PPA is putting a strain on finances at the company, which has decided to reduce its dividend for the first time in more than nine years.

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            ▪ TAQA Morocco spends €138m to extend its electricity supply contract

▪ While the right-of-use of the power plant has been extended for around ten years, the fund-raising required to pay for the PPA is putting a strain on finances at the company, which has decided to reduce its dividend for the first time in more than nine years.

http://www.jeuneafriquebusinessplus.com/en/804561/taqa-morocco-debourse-138-millions-e-pour-lextension-du-contrat-de-fourniture-delectricite/

02/06/2020 at 18h11, by Jeune Afrique Business+

Following the payment of a Power Purchase Agreement (PPA) royalty of MAD 1.5 billion (€138m) to the state, the Moroccan subsidiary of the Abu Dhabi National Energy Company has extended its right-of-use to units 1 to 4 of the Jorf Lasfar coal-fired power plant, located 200 km (approx. 124 miles) southwest of the capital Rabat, until 2044.

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