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In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 adopted for its implementation, as amended and supplemented, the Competition Council makes available to the public the “summary of the operation” below, containing the information provided by the parties.
This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.
The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 adopted for the implementation of Law No. 104-12 on freedom of prices and competition, as amended and supplemented.
Names of the companies and groups concerned:
- Founding party No. 1: “Nareva Holding”
- Founding party No. 2: “Taqa Morocco”
- Names of the joint ventures: the “JV hvdc” dedicated to electricity transportation and the “Renewable Energy JV(s)” dedicated to renewable energy projects.
Nature of the operation:
- Creation of joint ventures.
Economic sectors concerned:
- Production of renewable energies.
- Electricity transportation.
Deadline for interested third parties to submit their observations:
- 10 days from the date of publication of this press release, i.e., March 16, 2026.
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES
The Competition Council has received notification of an economic concentration project concerning the creation by the company “Nareva Holding” and the company “Taqa Morocco”, each holding a minimum of 85% equally (42.5% each), of a joint venture “JV hvdc” dedicated to electricity transportation and one or more joint ventures, the “Renewable Energy JV(s)” dedicated to renewable energy projects.
“Taqa Morocco” is a public limited company with a management board and supervisory board listed on the Casablanca Stock Exchange since December 2013, with a share capital of 2,358,854,200 dirhams and its registered office at Commune Moulay Abdellah, Route régionale 301, PK 23, Centrale Thermique de Jorf Lasfar, El Jadida. It is currently the leading private electricity producer in Morocco with, in 2024, six production units with a total capacity of 2,056 MW.
“Nareva Holding” is a public limited company, established in 2004, with a share capital of 2,037,300,000 dirhams, headquartered in Casablanca, Twin Center Tour A, 28th floor, boulevard Massira Al Khadra, Morocco, registered with the Casablanca Trade Register under number 131651. It is now a key player in electricity production and water management, with projects, in operation and under development, including wind farms, thermal power plants, and industrial units for irrigation and desalination.
The “JV hvdc” will aim to develop, design, finance, construct, commission, and make available to ONEE a new electricity transportation infrastructure with a capacity of approximately 3,000 MW, using the high-voltage direct current (HVDC) technology, between the south and center of the Kingdom of Morocco.
The “Renewable Energy JV(s)” will aim to develop, design, finance, construct, operate, and maintain renewable energy projects in the form of electricity supply contracts with ONEE, and potentially any designated public entity, with an installed production capacity of 1,200 MW.
This operation is part of the strategic objective to develop renewable energy capacities and an electricity transportation infrastructure between the south and center of the Kingdom of Morocco.
Done in Rabat on March 5, 2026
