TAQA Morocco’s first-half revenue fell 5.4% to MAD 5.09 billion as scheduled maintenance reduced generating-unit availability and an unfavorable dollar-dirham exchange rate weighed on performance, according to its financial update.
Revenue fell 12.8% in the second quarter to MAD 2.13 billion. Plant availability decreased to 86.6%, from 93.4% a year earlier, following a planned 25-day minor overhaul of Unit 3 and an inspection of Unit 2.
Capital spending, however, more than doubled to MAD 515 million from MAD 210 million. Second-quarter investment reached MAD 466 million, with spending directed toward low-carbon development, the Unit 3 overhaul and operating and maintenance projects.
Net debt declined 10.1% to MAD 4.62 billion through cash generation and repayments.
The group is expanding into desalination, renewable energy, natural gas and low-carbon water and energy transport. A restructuring approved July 17 will place its activities in specialized subsidiaries as TAQA Morocco moves toward a holding-company model.
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