TAQA Morocco Invests 1.3 Billion MAD in Boujmil Wind Farm
TAQA Morocco has secured its first green financing, 1.3 billion MAD from 4 Moroccan banks, for the first phase of the Boujmil wind farm in northern Morocco, set to start operating in 2027.
TAQA Morocco has secured its first-ever green financing, worth 1.3 billion dirhams, allocated to the first phase of the Boujmil wind farm in northern Morocco, according to Alyaoum24.
The project's construction, operation and maintenance are handled by Taqa Morocco Wind Corporation, a subsidiary of Taqa Morocco Wind Green Energy, itself a subsidiary of TAQA Morocco, an independent power producer founded in 1997 and listed on the Casablanca Stock Exchange since December 2013. The group had announced the start of construction work on the Boujmil farm in the second quarter of 2025, as part of accelerating its energy diversification strategy, which also includes a project with Spain's Moeve group to produce green ammonia under the "Green Hydrogen Morocco" offer, according to Le Matin.
Project Capacity and Timeline
The first phase of the Boujmil wind farm has a capacity of 96 MW, set to rise to a total of 144 MW once the project is complete. The farm is expected to start supplying electricity to the national grid from the second half of 2027.
| Phase | Capacity | Timeline |
|---|---|---|
| Phase 1 (currently financed) | 96 MW | Operating from early H2 2027 |
| Total capacity on completion | 144 MW | Not specified |
The deal was financed by four Moroccan banks: Banque Populaire, Attijariwafa Bank, Bank of Africa and Saham Bank, in what TAQA Morocco describes as its first green financing since its founding.
Abdelmajid Iraqui Houssaini, Chairman of the Management Board of TAQA Morocco, said the Boujmil wind farm "constitutes an important milestone in rolling out" the group's energy diversification strategy.
Energy and Environmental Impact
The power generated by the Boujmil wind farm is expected to cover the electricity needs of the equivalent of 120,000 Moroccan households, while avoiding roughly 250,000 tonnes of CO2 emissions per year. The project comes as the state continues to expand its investments in the energy sector, after recently earmarking 17 billion dirhams over 4 years to stabilize electricity prices for consumers.