At a glance
TAQA Morocco generates electricity at the Jorf Lasfar thermal power plant near El Jadida and sells it to the national utility ONEE. It is controlled by the Emirati group TAQA (Abu Dhabi National Energy Company).
History
The company was originally called Jorf Lasfar Energy Company (JLEC). It was listed on the Casablanca Stock Exchange in December 2013 and later renamed TAQA Morocco. In July 2026 it announced the transfer of the plant to a subsidiary, turning itself into a holding company able to carry other energy projects.
Latest published results
In the first half of 2026, consolidated revenue came to MAD 5.09 billion, versus MAD 5.37 billion a year earlier. Net income attributable to the group rose 5.8% to MAD 462 million, helped by lower financial costs. The plant produced 6,684 GWh, with an availability rate of 86.6% (91.7% a year earlier). Capital expenditure more than doubled to MAD 515 million.
What to watch
The rollout of the new holding structure and newly announced renewable energy projects.
Key dates
- 1997
Jorf Lasfar Energy Company (JLEC) is created and signs a 30-year concession with ONE.
- 2001
The plant's first two units enter service.
- 2007
The Emirati group TAQA becomes JLEC's sole shareholder.
- 2010
Units 5 and 6 launched, a USD 1.6 billion investment.
- 2013
Listing on the Casablanca Stock Exchange on 24 December.
- 2014
Unit 5 enters service.
- 2017
JLEC is renamed TAQA Morocco.
- 2026
Transfer of the plant to a subsidiary and move to a holding model announced.
Sources: Le Matin, TAQA Morocco : bénéfices en hausse de 5,8 % au S1 2026, September 14, 2026; Médias24, JLEC introduit à la Bourse de Casablanca, December 3, 2013; TAQA Morocco, communiqué sur la filialisation de JLEC, July 20, 2026; TelQuel, JLEC : la petite histoire d'un géant de l'électricité, December 17, 2013; Médias24, Jorf Lasfar : l'unité 5 opérationnelle, April 22, 2014.
Profile updated on October 29, 2026.