Thursday , June 1 2023

What is the value of the Tahaddart Thermal Power Plant?


Through La Mamounia, the Tahaddart power plant (near Asilah) will be privatized in 2019. Over the last 10 years since its inception in 2005, it has demonstrated good financial soundness and sustained profitability. It accounts for 7% of national electricity consumption. Detail.

after November 8 Executive CommitteeWe now know the list of companies for which privatization was proposed in 2019. This privatization will be returned to Parliament because the project is done through the law that was submitted.

The goal is to supplement state with a favorable budgetary effort in the social sector in the context of the 2019 PLF.

One of these companies is the Tahaddart thermal power plant not far from Asilah. The first combined cycle (gas / steam) plant in Morocco is distinguished by the energy and environmental performance that can deliver 384 MW of power. Using natural gas, it emits six times less nitrogen oxides than its predecessor and emits the third smallest amount of CO2.

Tahaddart Power Plant, founded by King Mohammed VI and former King Juan Carlos of Spain in 2005 Investment of 3.1 billion Dirham. Energie Electrique de Tahaddart in Morocco, including ONEE (48%), Spain's Endesa Generacion (32%) and German (32%) Siemens project venture (20%).

In the context of possible privatization in 2019, it is unclear whether the country intends to sell some or all of its stake in EET. On the other hand, what is certain is that potential buyers will definitely make good deals on EET's financial indicators (the most recent data at the end of 2016).

2016 MDH 200 or more net profit

With a capital of 750.4 MDH, Tahergart's Morocco company, Energie Electrique, achieved sales of 605,5 MDH in 2016, nearly double the net result of 204 MDH in 2006.

To justify a good financial balance, EET has a capital of 1.04 MMDH and a liability of 301 MDH (mid to long term). Interestingly, its balance sheet adds up to 1.4 billion Dirhams, including 1.1 billion Dirham of intangible assets (patents, trademarks, rights and similar values).

At the end of 2017, the Tahaddart Power Plant will generate about 2,626 Gwh and will account for 7% of the nation's electricity consumption, according to a utility and public company report with a 2019 PLF.

EET will deliver all production to ONEE through a concession agreement that expires in 2025. In this sense, prospective buyers must obtain a warranty from the state for the renewal of this contract, which may be as follows: Renegotiation …

>>Also read: Hotel La Mamounia: So why should you privatize one of the jewels of Morocco?

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