Energy Generation: 100%
Top 3 Markets:

1. Morocco: approx. 90%
2. African countries (excluding Morocco): approx. 5%
3. Europe: approx. 5%

TAQA Morocco S.A. is mainly active in the field of energy generation, with the majority of revenues coming from electricity production. The Moroccan market is the company's main sales market, as it operates the largest thermal energy plant there.

A smaller portion of revenues is generated through exports to other African countries and to Europe, with these markets together accounting for about 10% of total revenues. This distribution reflects the company's strategic focus on dominating the domestic market while also leveraging international expansion opportunities.

Production Site: Jorf Lasfar, Morocco

TAQA Morocco S.A. operates the largest independent coal-fired power plant in Africa, located in Jorf Lasfar, Morocco. This power plant is the company's main production site and plays a crucial role in the country's energy supply. The company focuses on electricity generation and significantly contributes to the stability of the Moroccan power grid.

Revenue Growth: Estimated 8-10% annually (2025) Investments in Renewable Energy: 500 million USD (2025)

TAQA Morocco S.A. is pursuing a growth strategy that strongly focuses on diversifying its energy sources. The company plans to significantly expand its capacities in the field of renewable energies to meet the increasing demand for sustainable energy.

A key component of the strategy is the investment in solar and wind energy projects to increase the share of renewable energies in the portfolio. These investments amount to approximately 500 million USD and are planned to be implemented in the coming years.

Furthermore, TAQA Morocco aims to reduce operating costs and increase profitability through technological innovations and efficiency improvements in existing power plants. This is intended not only to strengthen competitiveness but also to reduce environmental impact.

Main raw materials: Coal

Countries of origin: South Africa, Russia, Colombia

TAQA Morocco S.A., a leading energy company in Morocco, mainly imports coal, which serves as the primary fuel for its power plants. The coal is mainly sourced from South Africa, Russia, and Colombia. These countries are known for their extensive coal reserves and their ability to export large quantities at competitive prices.

The import of these raw materials is crucial for maintaining energy production and ensuring supply security in Morocco. TAQA Morocco continuously optimizes its supply chains to minimize costs and maximize efficiency.

Market share in Morocco: 40% (2024) Capacity utilization: 95% (2024) EBITDA margin: 45% (2024)

TAQA Morocco S.A. possesses a significant competitive advantage in the Moroccan energy sector. With a market share of 40%, the company is the largest private electricity producer in Morocco. The high capacity utilization of 95% indicates that the existing facilities are being efficiently utilized, pointing to a strong operational performance.

The EBITDA margin of 45% underscores the profitability of the company compared to other players in the industry. This metric suggests that TAQA Morocco is able to effectively manage its costs while generating high revenues.

Additionally, the company benefits from long-term power purchase agreements with the Moroccan government, ensuring stable and predictable revenues. Together, these factors give TAQA Morocco a sustainable competitive advantage in the country's energy sector.

Institutional Investor Share: 43% (2025, estimated)
Insider Buys/Sells: No significant transactions reported (2025, estimated)

The institutional investor share in TAQA Morocco S.A. is estimated to be 43%. This figure indicates that almost half of the shares are held by large institutional investors, suggesting a certain level of confidence in the company's stability and growth potential.

No significant insider transactions were reported in 2025. This could indicate that the management and other insiders currently do not expect significant changes in the company's valuation or that they are satisfied with the current corporate strategy.

Market share of TAQA Morocco S.A.: 35% (2025, estimated)

Main competitors and their market shares:

1. ONEE (Office National de l'Electricité et de l'Eau Potable): 25%
2. Jorf Lasfar Energy Company (JLEC): 15%
3. Nareva Holding: 10%
4. ACWA Power: 8%
5. EDF Renouvelables: 7%

Moat of TAQA Morocco S.A.:

TAQA Morocco S.A. has a significant moat due to its established infrastructure and long-term power purchase agreements that secure stable revenues. The company benefits from its strategic partnership with the Moroccan government and its leading position in the coal power plant sector.

Compared to its competitors, TAQA Morocco has an advantage in scale efficiency and technological expertise, especially in operating large thermal power plants. While ONEE, as a state-owned company, also has a strong market presence, it is less flexible in adapting to market changes.

Jorf Lasfar Energy Company and Nareva Holding are heavily investing in renewable energies, which could give them an advantage in the future, especially in the face of the global energy transition. ACWA Power and EDF Renouvelables are also heavily involved in renewable projects, providing them with a modern moat in terms of sustainability and innovation.

In summary, TAQA Morocco has a solid moat, but it is being challenged by the global trend towards renewable energies and increasing competition in this sector.

Revenue Growth: 8.5% (2024) Profit Growth: 7.2% (2024) Market Share in the Energy Sector of Morocco: 40% (2024)

TAQA Morocco S.A. recorded a revenue growth of 8.5% in 2024, attributed to stable energy demand and efficient operations management. The company holds a significant market share of 40% in the Moroccan energy sector, highlighting its strong market position.

The profit growth of 7.2% in 2024 indicates that TAQA Morocco is able to increase its profitability despite potential challenges in the energy market. These figures suggest that the company is well positioned to benefit from stable demand and potential market opportunities.

In addition, TAQA Morocco is investing in renewable energy and infrastructure projects, which could have long-term positive impacts on the sustainability and growth potential of the company. These strategic investments could make the company more resilient to market fluctuations and open up new revenue streams.

Dividend Yield: 4.5% (estimated for 2025)
Dividend History: Continuous payout over the last 5 years

TAQA Morocco S.A. has distributed a consistent dividend to its shareholders in recent years. The estimated dividend yield is 4.5% for the year 2025, which is competitive compared to other companies in the energy sector.

The reliability of the payout is supported by the stable financial performance and the strategic importance of the company in the Moroccan energy sector. TAQA Morocco has a solid balance sheet and consistently generates positive cash flows, underpinning its ability to pay dividends.