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Taqa ties up with Theolia to bid for wind farm deal in Morocco
Abu Dhabi National Energy Company (Taqa) and Theolia, a leader in the use of wind power to generate electricity, has signed a partnership agreement in the renewable energy sector in Morocco.
- Staff Report
- Published: 23:44 June 15, 2008
Dubai: Abu Dhabi National Energy Company (Taqa) and Theolia, a leader in the use of wind power to generate electricity, has signed a partnership agreement in the renewable energy sector in Morocco.
"This agreement aims to create a consortium of these two pre-qualified companies to respond jointly to the international invitation to tender for the construction and operation of a 300 megawatt wind farm located in Tarfaya, Morocco," a joint statement said on Sunday.
Taqa and Theolia further agreed a 50-50 partnership in the Compagnie Eolienne du Detroit (CED), including studying the possibility of optimising wind sites in Morocco, notably the Abdelkhalek Torres wind farm near the current site of CED.
Site
This site, located in the north of Morocco where wind conditions are excellent, offers a double opportunity: the possible repowering of the 84 turbines commissioned in 2000 and the possible extension of the wind farm by several hundred additional mega-watts.
Peter Barker-Homek, Taqa chief executive, said, "Today's announcement is a real milestone for Taqa; it marks our first step into renewable energy. Our strategy is to diversify across the energy value chain in different territories, and by joining forces with Theolia in CED we feel that we are in a good position to bid for the new wind farm capacity. This is truly in line with our growth strategy and my vision for the company."
Jean-Marie Santander, chairman and chief executive of Theolia, said, "This alliance confirms the development strategy of Theolia in emerging markets. Together, Theolia's expertise and Taqa's strength will give birth to a major player in the production of electricity from renewable energy in Morocco and the emerging markets in general.
Founded in 2005, Taqa is a global energy company with a growing asset base that exceeds Dh86 billion ($23.4 billion).
One of the largest companies listed on the Abu Dhabi Securities Market (ADSM), with 2007 revenues of more than Dh8 billion, Taqa is a flagship corporation for the Government of Abu Dhabi.
The company employs approximately 2,800 people of 38 nationalities and operates from its offices in Abu Dhabi; Ann Arbor, Michigan; Aberdeen; Amsterdam; Calgary and The Hague.
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