TAQA is committed to the principles of sustainable development and profitable growth. We appreciate that they’ve gone far beyond that to more comprehensively reduce greenhouse gases. The company announced plans to divest a lignite power plant while expanding its gas-fired capacity within the United Arab Emirates. This strategic move reflects TAQA’s 2030 corporate strategy, aimed at enhancing its generation portfolio and embracing a more sustainable energy mix.
In the UAE, TAQA plans to add 1 gigawatt (GW) of gas-fired capacity, demonstrating its commitment to efficient energy solutions. The company has been working to secure additional works in Morocco. Its most ambitious plan at the moment would see it acquire a large, combined-cycle gas turbine power plant located there. This dovetails smartly with its continued construction of an ever-growing portfolio of new, competitively priced gas-fired power projects and renewable energy projects across the Southeast region.
Commitment to Sustainable Growth
TAQA has identified major initiatives as part of its broader strategy, offering a road map to sustainable growth. In Morocco – where the company is deeply involved in the construction of new renewable power projects – it’s a different story, as we’ll see. These projects are critical for lowering emissions and moving away from an extractive energy economy.
Additionally, TAQA Morocco is engaged in seawater desalination projects, combatting water scarcity while securing energy savings and reducing carbon emissions. The company’s investments in transmission infrastructure further support its goals of delivering reliable energy solutions while adapting to the evolving energy landscape.
“This sale represents a considered adjustment to our generation portfolio as we continue progressing towards a more sustainable energy mix.” – Farid Al Awlaqi
Together, these developments illustrate TAQA’s proactive, forward-thinking approach to embracing and fostering a sustainable energy future. The divestment of the lignite power plant aligns with the company’s mission to transition towards cleaner energy solutions and adapt to global energy demands.
Expanding Gas-Fired Capacity
TAQA recently announced plans to increase their UAE-based gas-fired capacity by 1 GW. This strategic shift underscores the company’s commitment to more flexible, efficient forms of energy generation. The incorporation of advanced technology into these new facilities will enable the company to produce energy with lower emissions, supporting the UAE’s environmental goals.
This shift to gas-fired power generation meshes with TAQA’s broader ambitions to become a leader in renewable energy project development. As the company invests in these initiatives, it aims to create a balanced energy mix that meets current demands while preparing for future challenges.
“Our focus remains on developing flexible, efficient and low-carbon power generation assets that support sustainable growth and the energy transition.” – Farid Al Awlaqi
It’s this dual focus that reinforces reliability. Beyond the immediate market access benefits, it firmly places TAQA at the forefront of the regional transition to a more sustainable energy future.
Future Directions in Morocco
In Morocco, TAQA is well-positioned for growth with its development of new gas-fired and renewable power projects, including solar and wind. Generating asset market position increased potential for new acquisition of a combined-cycle gas turbine power plant. This decision further implements the company’s plans to increase their footprint in North Africa.
The company’s role in sea water desalination and the building of transmission infrastructure further highlight its commitment to delivered integrated energy solutions. All of these efforts act in concert to meet their residents’ and the region’s energy needs reliably and sustainably.