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JLEC will build, own, and operate the new units 5 and 6 under a 30-year power purchase agreement.
Jorf Lasfar Energy Company, the first independent power producer in the Kingdom of Morocco, owns and operates 4 units of 350 mw each, providing about half of the country's annual electricity production.
With this agreement, Taqa display its confidence in the energy sector of Morocco and the emerging markets in general.
Peter Barker-Homek, Chief Executive Officer of Taqa, said:
"Generating power for a dynamic economy like Morocco's brings with it many challenges, because of the sheer pace of growing demand. This announcement is testament to the decisiveness being shown by the ONE in securing critical power resource for Morocco's future. "
"The breadth of Taqa's international power generation experience and our commitment to meeting the highest international standards can be seen in the excellence of the existing JLEC units. Both aspects will be fundamental to the success of this project and in delivering the expansion of this world class power station."
Commenting on the agreement, Ali Fassi-Fehri, CEO of ONE, said: "JLEC is the largest independent power facility in MENA region and one of Morocco's largest companies, employing more than 300 people. As a company, it has consistently delivered against the ONE's strategic objective of operational improvements providing the least costly additional kilowatt hour."
"It is for this reason that we are confident Taqa will deliver, in partnership with the ONE, an expansion that will help to provide for Morocco's energy security for decades to come."
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Posted by Nadeen El Ajou
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