Media Releases

TAQA subsidiary celebrates oversubscribed IPO, first day of trading on Casablanca Stock Exchange 24 Dec 2014
Jorf Lasfar Energy Company (JLEC) opened for trading today on the Casablanca Stock Exchange after its initial public offering (IPO) was oversubscribed 6.69 times.

Abu Dhabi, United Arab Emirates – Jorf Lasfar Energy Company (JLEC), TAQA’s Moroccan subsidiary, opened for trading today on the Casablanca Stock Exchange after its initial public offering (IPO) was oversubscribed 6.69 times.

Abdelmajid Iraqui Houssaini, CEO of JLEC was joined by Mohamed Boussaid, Morocco’s Minister of Economy and Finance, and members of the JLEC management team to celebrate the first day of trading by ringing the opening bell in Casablanca.

JLEC, which operates Morocco’s largest power complex, issued a total of 2,234,638 new shares, offered at a price of MAD 447.5 with a nominal value of MAD 100. These shares represent 9.47% of JLEC. Prior to the IPO, 4.74% were secured through private placement by Moroccan institutional investors RMA Watanya, Société Centrale de Réassurance and Mutuelle Centrale Marocaine d’Assurances. TAQA retains 85.79% of JLEC.

Carl Sheldon, TAQA’s Chief Executive Officer, said: “The great demand for JLEC shares reflects the strength of TAQA's power business in Morocco, where we are the market leader and have ambitious plans for growth. The kingdom's energy needs are expected to double in the next seven years and TAQA will continue to be a vital partner in meeting this demand."

Abdelmajid Iraqui Houssaini, Chief Executive Officer of JLEC, said: “Today's listing gives Moroccans the chance to share in the growth of the kingdom's largest power producer. With our new investor base, we are more strongly woven into the fabric of this fast-growing economy.”

TAQA has almost completed a USD 1.6 billion expansion of the Jorf Lasfar power complex, which will increase its generation capacity by 700 megawatts (MW) to 2,056 MW. Two new units are scheduled to be commissioned in 2014. When the expansion is complete, Jorf Lasfar will supply 50% of the Kingdom’s electricity.

- ENDS -

For further information:

TAQA Media Relations - Abu Dhabi
Allan Virtanen
Head of Media
Tel +971 2 691 4894
Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

TAQA means energy in Arabic. We are an international energy and water company listed in Abu Dhabi operating in 11 countries across four continents.
We strive to run our company safely and sustainably, operating to the highest ethical standards. We are proud to align our strategy to Abu Dhabi’s Economic Vision 2030, a roadmap for a sustainable economy with a focus on knowledge-based industry.
Our interests lie in conventional and alternative power generation, water desalination, oil and gas exploration and production, pipelines and gas storage. We operate in Canada, Ghana, India, Iraq, Morocco, the Netherlands, Oman, Saudi Arabia, the United Arab Emirates, the United Kingdom and the United States

Suhail Al Shamsi appointed GVP Treasury 21 Sep 2014
TAQA has promoted Suhail Al Shamsi to the role of Group Vice-President - Treasury and member of the company’s Global Management Team.
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ABU DHABI, United Arab Emirates – TAQA, the Abu Dhabi National Energy Company, has promoted Suhail Al Shamsi, currently Head of Treasury Operations, to the role of Group Vice-President - Treasury and member of the company’s Global Management Team.

Commenting on the appointment, Saeed Al Dhaheri, Executive Vice-President Human Resources and General Services, said: “I look forward to working alongside Suhail as part of the Global Management Team. The fact that so many of our new leaders have been promoted from within the company reflects our long-term commitment to talent development and creating opportunities for top performers.”

Suhail Al Shamsi, a UAE national, started his career at TAQA as Head of Treasury Operations in 2010. In his new role, he succeeds Ryan Wong who was promoted to acting Chief Financial Officer in September 2014. As Group Vice-President - Treasury, Al Shamsi has responsibility for operational treasury including cash and liquidity management, and the corporate finance and funding functions.Al Shamsi has 20 years of finance sector experience and has held leadership positions at Senaat and Abu Dhabi Islamic Bank. He has an MBA from United Arab Emirates University and a bachelor's degree in Economics from Texas A&M University.

This latest appointment is part of the company’s ongoing strategy development process, which has a focus on enhancing Emiratisation efforts.

TAQA appoints Ryan Wong as acting CFO 10 Sep 2014
TAQA has appointed Ryan Wong to the position of acting Chief Financial Officer (CFO) effective 1 October.
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Abu Dhabi, United Arab Emirates – TAQA, the Abu Dhabi National Energy Company, has appointed Ryan Wong, currently Group Vice-President Treasury, to the position of acting Chief Financial Officer (CFO) effective 1 October.

Mr. Wong will replace Stephen Kersley, who held the role of CFO since May 2011 and has decided to leave the company effective 1 November 2014.

Ed LaFehr, Chief Operating Officer of TAQA, commented: “Steve led a significant upgrading of TAQA’s financial processes, systems, and treasury operations. We wish him well for the future and thank him for his service over the past years.”

Ryan Wong joined TAQA in 2008 and brings to the role 35 years of financial and treasury experience.

TAQA appoints Saeed Al Dhaheri to Executive Team 6 Sep 2014
TAQA has appointed Saeed Hamad Al Dhaheri to the position of Executive Vice President Human Resources and General Services.
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Abu Dhabi, United Arab Emirates - TAQA, the Abu Dhabi National Energy Company, has appointed Saeed Hamad Al Dhaheri to the position of Executive Vice President Human Resources and General Services.

Mr. Al Dhaheri has more than 12 years of experience from the human resource industry in Abu Dhabi. He joins TAQA from government-owned Abu Dhabi Media Company where he led the human resources, procurement and administration functions. Mr. Al Dhaheri has also served on the Board of Directors of United Printing & Publishing and previously held human resources leadership positions at Etihad Rail  and Abu Dhabi Health Services Company - SEHA.

In June 2014, TAQA initiated a significant restructuring and strategy development process with a focus on enhancing Emiratisation efforts.

TAQA subsidiary receives approval for Morocco listing 3 Dec 2013
Jorf Lasfar Energy Company has received approval to list on the Casablanca Stock Exchange.

Abu Dhabi, United Arab Emirates – Jorf Lasfar Energy Company (JLEC), TAQA’s wholly owned Moroccan subsidiary, has received approval to list on the Casablanca Stock Exchange.

JLEC, which operates Morocco’s largest power complex, is authorised by the Conseil Déontologique des Valeurs Mobilières (CDVM) to create a total of 2,234,638 new shares, offered at a price of MAD 447.5 with a nominal value of MAD 100. These shares represent 9.47% of JLEC and will be floated on the exchange. In addition to that, 4.74% were offered and fully subscribed through private placement to key Moroccan institutional investors prior to the initial public offering. TAQA will retain a 85.79% of JLEC.

Carl Sheldon, TAQA’s Chief Executive Officer, said: “The IPO will allow the Moroccan people and institutions to invest in their largest electricity generator. TAQA is committed to supporting Morocco’s strategy of securing the supply of energy while diversifying its fuel mix.”   

Abdelmajid Iraqui Houssaini, Chief Executive Officer of Jorf Lasfar Energy Company, said: “JLEC is the leading energy operator in Morocco and we feel that this new step will allow us to anchor our business in the Moroccan economy by opening up our capital to institutional investors."

TAQA has almost completed a USD 1.6 billion expansion of the Jorf Lasfar power complex, which will increase its generation capacity by 700 megawatts (MW) to 2,056 MW. Two new units are scheduled to be commissioned next year.

Jorf Lasfar supplied 38 per cent of the Kingdom’s electricity in 2012, and the expansion is vital to enabling national economic growth and job creation. TAQA is also developing alternative energy projects for Morocco, including wind power.

Electricity consumption in Morocco is expected to double by 2020 and quadruple by 2030.

- ENDS -

For further information:

TAQA Media Relations - Abu Dhabi
Allan Virtanen
Head of Media
Tel +971 2 691 4894
Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

TAQA means energy in Arabic. We are an international energy and water company listed in Abu Dhabi operating in 11 countries across four continents. 
We strive to run our company safely and sustainably, operating to the highest ethical standards. We are proud to align our strategy to Abu Dhabi’s Economic Vision 2030, a roadmap for a sustainable economy with a focus on knowledge-based industry. 
Our interests lie in conventional and alternative power generation, water desalination, oil and gas exploration and production, pipelines and gas storage. We operate in Canada, Ghana, India, Iraq, Morocco, the Netherlands, Oman, Saudi Arabia, the United Arab Emirates, the United Kingdom and the United States.

Incident AT JORF LASFAR POWER COMPLEX 29 Oct 2013
TAQA confirms that a failure occurred in a tank forming part of a chlorination unit of the Jorf Lasfar power complex in Morocco. The incident has no impact on power generation from Jorf Lasfar.

TAQA confirms that at approximately 09:30 local time a failure occurred in a tank forming part of a chlorination unit of the Jorf Lasfar power complex in Morocco.

One person working in the vicinity of the tank received minor injuries and was taken to hospital for observation.

The incident has no impact on power generation from Jorf Lasfar and there was no impact on the environment. 

A team has been formed to investigate the causes of the incident and underlying causes.

Incident in Morocco 2 Mar 2013
TAQA confirms that an individual working at the Jorf Lasfar construction site in Morocco died on Friday morning.

Abu Dhabi, United Arab Emirates – TAQA, the global energy company based in Abu Dhabi, confirms that an individual working at the Jorf Lasfar 5+6 construction site in Morocco died on Friday morning.

The deceased was an employee of Daewoo, working under contract to the Jorf Lasfar Energy Company (JLEC) site, located 130 km south of Casablanca.

“This is a very sad time for us all. I extend my profound condolences to his family, friends and colleagues,” said Carl Sheldon, Chief Executive Officer of TAQA.

The family of the deceased has been informed.

TAQA, JLEC and Daewoo are conducting investigations into the incident and regulatory and government authorities have been informed.

There is no risk to public safety.

Media contacts

Morocco
Meryem Benzakour
+212 522 977 380

Abu Dhabi
Allan Virtanen
+971 2 691 4894
allan.virtanen@taqaglobal.com

TAQA closes financing for Morocco power plant expansion 28 Jan 2013
TAQA has signed final agreements marking the close of the USD 1.4 billion equivalent project financing for the expansion of the Jorf Lasfar power plant in Morocco

Abu Dhabi, United Arab Emirates – Abu Dhabi National Energy Company PJSC (TAQA) has signed final agreements marking the close of the USD 1.4 billion equivalent project financing for the expansion of the Jorf Lasfar power plant in Morocco.

Jorf Lasfar is already the largest coal-fired power plant in the Middle East and North Africa and the first independent power producer (IPP) in Morocco, supplying 40 per cent of the Kingdom’s electricity output. The expansion project will increase its capacity by 700 megawatts (MW) to 2,056 MW.

The protocol agreement for the expansion was signed in 2009 by TAQA and Office National de l’Electricité et de l’Eau Potable (ONEE) in the presence of His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and His Highness King Mohammed VI of Morocco. 

His Excellency Abdulla Saif Al-Nuaimi, Vice Chairman of TAQA, said: “This expansion project is a continuation of our commitment to Morocco, delivering critical national infrastructure and power to a growing economy. TAQA’s commitment to meet Morocco’s energy needs was not conditional on financing, as the project is already 80 per cent complete. But this financing shows that, for the right deal with the right structure, significant non-recourse funds can be attracted to the Middle East and North Africa at competitive rates.”

This is the largest international project financing in Morocco in over a decade and the first time Japanese and Korean export credit agencies have participated in Moroccan project finance.

Carl Sheldon, Chief Executive Officer of TAQA, said: “This is a landmark deal for Morocco and the region which has set a gold standard for financing large-scale infrastructure projects.”  

Majid Iraqui, Managing Director for TAQA in North Africa, said: “The expansion of Jorf Lasfar will increase Moroccan power generation capacity by more than 10 per cent and is vital to enabling growth and creating jobs in the economy. Construction is well advanced thanks to the strong support of the Moroccan government and the ONEE.”

The engineering, procurement and construction (EPC) contract for units 5 and 6 was awarded to Mitsui & Co (Japan) and Daewoo Engineering & Construction (Korea) in 2010. Separate EPC contracts for two coal unloaders and upgrades to the coal conveyors at the port of Jorf Lasfar were awarded to Cargotec (Sweden) and China Harbour Engineering Company in 2011. Construction work began in September 2010, with TAQA providing interim funding. The expansion is now approximately 80 per cent complete and overall costs remain within the USD 1.6 billion budget. The two new units are scheduled to be commissioned in December 2013 and April 2014. 

The lenders are providing financing for approximately 75% of the total project costs while TAQA is committing approximately USD 400 million of equity funding. The 16-year, multi-currency non-recourse debt, maturing in 2028, represents the equivalent of approximately USD 1.3 billion. Working capital and VAT facilities amount to the equivalent of approximately USD 100 million.

Banque Centrale Populaire (BCP), BNP Paribas, Société Générale and Standard Chartered Bank are the mandated lead arrangers for the credit facilities. Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI) and Export-Import Bank of Korea (Korea Eximbank) are providing direct loans and loan guarantees for more than 50% of the total project debt. 

- ENDS -

Contact Information for Media:
Abu Dhabi
Taryam Al Subaihi
Head of External Relations
Tel +971 2 691 4803
Mob + 97156 219 5195

Allan Virtanen
Head of Media
Tel +971 2 691 4894
Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation.  

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development.  

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL

TAQA Completes USD 1.4 Billion Project Financing Arrangements for Morocco power plant expansion 20 Jun 2012
TAQA today announced that its wholly-owned subsidiary, Jorf Lasfar Energy Company 5&6 SA, has signed financing arrangements for USD 1.4 billion equivalent of 16-year, multi-currency non-recourse project financing for the 700 MW expansion of TAQA’s Jorf Lasfar coal-fired power complex in Morocco.

Abu Dhabi, United Arab Emirates – Abu Dhabi National Energy Company PJSC (“TAQA”), today announced that its wholly-owned subsidiary, Jorf Lasfar Energy Company 5&6 SA, has  signed financing arrangements for USD 1.4 billion equivalent of 16-year, multi-currency non-recourse project financing for the 700 MW expansion of TAQA’s Jorf Lasfar coal-fired power complex in Morocco.

BNP Paribas, Société Générale and Standard Chartered Bank are the mandated lead arrangers for the international debt facilities, while Morocco’s Banque Centrale Populaire (BCP) is the mandated lead arranger for the Moroccan Dirham credit facilities, representing approximately 40% of the total debt. Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI) and Export-Import Bank of Korea (Korea Eximbank) will provide direct loans and loan guarantees for more than 50% of the total project debt. This is the first time the Japanese and Korean export credit agencies have participated in a project finance transaction in Morocco.

Jorf Lasfar is the largest coal-fired power complex in the MENA region and the first independent power producer (IPP) in Morocco. The expansion is a key infrastructure project for Morocco’s energy strategy intended to meet the needs of ONEE (Office National de l’Electricité & de l’Eau Potable) and to increase the country’s installed electricity generation capacity. The 700 MW expansion will bring Jorf Lasfar’s gross capacity to 2,056 MW.

TAQA’s roots lie in the provision of power generation and water desalination capabilities in Abu Dhabi, and this has remained a key part of its business. TAQA brings world class technical and operational expertise and a proven track record in developing challenging power projects. TAQA’s growing international power business is a core part of TAQA’s expanding portfolio across the MENA region.

Frank Perez, Executive Officer and TAQA’s Head of Power & Water said: “This announcement marks a significant milestone in TAQA’s development as a major provider of power generation in Morocco and across the MENA region. We are excited to play a crucial role in the national energy strategy of a rapidly growing country like Morocco. Despite the on-going instability in global financial markets we have successfully secured sophisticated international financing arrangements from Asian, European, and Moroccan lenders across multiple currencies totalling USD 1.4 billion equivalent. Our profile, as the sponsor, developer, and operator of this significant infrastructure project together with ONEE and the Moroccan Government's support, has undoubtedly helped secure favourable terms.”  

The long-term debt, maturing in 2028, represents the equivalent of USD 1.3 billion. The medium-term debt, maturing in 2014, will amount to the equivalent of USD 100 million.

The expansion units 5 and 6 are scheduled to be commissioned in December 2013 and April 2014 respectively. The EPC contract for the expansion was awarded to Mitsui & Co (Japan) and Daewoo Engineering & Construction (Korea) in 2010. The expansion is expected to generate 3,000 direct jobs and 2,000 indirect jobs during construction. In the long term, the new units are expected to provide 135 jobs while providing indirect employment to 1,000 people.
 

-Ends-

Contact Information for Media:
Allan Virtanen
TAQA Media Relations, Abu Dhabi
Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

Tanis Thacker
TAQA Investor Relations, Abu Dhabi
Tel +971 2 691 4900
Tanis.Thacker@taqaglobal.com

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation.  

BNP Paribas, Société Générale and Standard Chartered Bank are the mandated lead arrangers for the international debt facilities, while Morocco’s Banque Centrale Populaire (BCP) is the mandated lead arranger for the Moroccan Dirham credit facilities, representing approximately 40% of the total debt. Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI) and Export-Import Bank of Korea (Korea Eximbank) will provide direct loans and loan guarantees for more than 50% of the total project debt. This is the first time the Japanese and Korean export credit agencies have participated in a project finance transaction in Morocco. 

Jorf Lasfar is the largest coal-fired power complex in the MENA region and the first independent power producer (IPP) in Morocco. The expansion is a key infrastructure project for Morocco’s energy strategy intended to meet the needs of ONEE (Office National de l’Electricité & de l’Eau Potable) and to increase the country’s installed electricity generation capacity. The 700 MW expansion will bring Jorf Lasfar’s gross capacity to 2,056 MW.

TAQA’s roots lie in the provision of power generation and water desalination capabilities in Abu Dhabi, and this has remained a key part of its business. TAQA brings world class technical and operational expertise and a proven track record in developing challenging power projects. TAQA’s growing international power business is a core part of TAQA’s expanding portfolio across the MENA region.

Frank Perez, Executive Officer and TAQA’s Head of Power & Water said: “This announcement marks a significant milestone in TAQA’s development as a major provider of power generation in Morocco and across the MENA region. We are excited to play a crucial role in the national energy strategy of a rapidly growing country like Morocco. Despite the on-going instability in global financial markets we have successfully secured sophisticated international financing arrangements from Asian, European, and Moroccan lenders across multiple currencies totalling USD 1.4 billion equivalent. Our profile, as the sponsor, developer, and operator of this significant infrastructure project together with ONEE and the Moroccan Government's support, has undoubtedly helped secure favourable terms.”  

The long-term debt, maturing in 2028, represents the equivalent of USD 1.3 billion. The medium-term debt, maturing in 2014, will amount to the equivalent of USD 100 million.

The expansion units 5 and 6 are scheduled to be commissioned in December 2013 and April 2014 respectively. The EPC contract for the expansion was awarded to Mitsui & Co (Japan) and Daewoo Engineering & Construction (Korea) in 2010. The expansion is expected to generate 3,000 direct jobs and 2,000 indirect jobs during construction. In the long term, the new units are expected to provide 135 jobs while providing indirect employment to 1,000 people.
 
-Ends-

Contact Information for Media:
Allan Virtanen
TAQA Media Relations, Abu Dhabi
Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

Tanis Thacker
TAQA Investor Relations, Abu Dhabi
Tel +971 2 691 4900
Tanis.Thacker@taqaglobal.com

Meryem Benzakour
TAQA North Africa / Jorf Lasfar Energy Company (JLEC), Casablanca
Tel: +212 522 977 380
meryem.benzakour@jlec.ma

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation.

Project for the extension of the Jorf Lasfar Power plant notice of request for proposal N° SP 444 870 31 May 2009
OPENING OF THE BIDS IN PUBLIC MEETING

This Request For Proposal SP 444 870 is issued jointly by the Office National de l''''''''''''''''Electricité ("ONE") and Jorf Lasfar Energy Company ("JLEC") for the purpose of carrying out the design, the material and equipment procurement, the construction, the testing and the commissioning of two new coal-fired units, each with a gross capacity of 350 MW (hereafter referred to as the "Project").

KINGDOM OF MOROCCO

PROJECT FOR THE EXTENSION OF THE JORF LASFAR POWER PLANT

NOTICE OF REQUEST FOR PROPOSAL N° SP 444 870

OPENING OF THE BIDS IN PUBLIC MEETING

This Request For Proposal SP 444 870 is issued jointly by the Office National de l'Electricité ("ONE") and Jorf Lasfar Energy Company ("JLEC") for the purpose of carrying out the design, the material and equipment procurement, the construction, the testing and the commissioning of two new coal-fired units, each with a gross capacity of 350 MW (hereafter referred to as the "Project"). These two new units will be an extension of the four existing units already being operated by JLEC on the Jorf Lasfar Power Plant site.

The Project will be performed in compliance with accepted international environmental rules.

The supply of coal for the new units will be effected through the coal terminal at the Jorf Lasfar port located near the Jorf Lasfar Power Plant and the transmission of energy produced by the two new units will be effected through a new 400 kV substation to be built by ONE.

On the basis of the present notice, ONE and JLEC invite the companies and consortia interested in the Project to take delivery of the RFP documents from 10.00 am on the 1st of June 2009 at the Direction des Achats et Logistique de l'Office National de l'Electricité, 65 Rue Othmane Ben Affane, 20 000 Casablanca, Morocco, against payment of a sum of 5,000 Moroccan dirhams to be paid by certified bank cheque issued in favour of Office National de l'Electricité.

The SP 444 870 RFP documents can also be sent by express mail to the interested companies and consortia upon receipt of a wire bank transfer of five thousand (5,000) Moroccan dirhams plus the mailing costs. In order to receive ONE bank details for the purpose of the above wire bank transfer, a request must be addressed by facsimile to the following number: +212 522 66 82 07.

In addition, the interested companies and consortia shall contact ONE at the above facsimile number in order to receive the confidentiality undertaking relating to the Project which shall be duly executed by an authorized representative of the bidder and addressed to the following address: OFFICE NATIONAL DE L'ELECTRICITE, 65 rue Othmane Ben Affane, 20000 Casablanca, Maroc, to the attention of Monsieur Mohamed Fadili, Directeur du Pôle Développement, Fax: +212 522 66 82 07, Email: ProjetJorf5et6@one.ma

The RFP documents will be handed over or sent out, as the case may be, to the interested companies or consortia upon receipt by the ONE of the duly executed confidentiality undertaking and the payment or wire bank transfer of the above-mentioned amount.

The opening of the bids shall occur in a public meeting on Thursday 1st October 2009 from 11.00 am (local time) at ONE headquarters located at 65, rue Othmane Ben Affan, Casablanca.

The bids submitted in accordance with the provisions of the RFP documents may be:

- received by mail or submitted personally against an acknowledgement of receipt, at the Bureau de dépots des offres, at the ONE headquarters at the abovementioned address, by no later than Wednesday 30th September 2009 at 16.00 pm (local time), or

- handed to the President of the Tender Committee at the beginning of the public meeting and before the opening of the bids which shall occur on Thursday 1st October 2009 from 11.00 am (local time).

- ENDS -

Contact Information for Media:

Allan Virtanen
TAQA Media Relations, Abu Dhabi
Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. 

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. 

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL

ONE and TAQA : Strategic partnership in Morocco to extend the capacity of the Jorf Lasfar Power Station by two new units of at least 350 Mw each 12 May 2009
Royal Palace, Fes, Morocco - The Office National de L’Electricite and Abu Dhabi National Energy Company PJSC (TAQA), a global energy company, signed today a strategic partnership agreement, in the presence of King Mohammed VI of Morocco and H.H. Sheikh Mohammed bin Zayed Al Nahyan of the UAE, to extend the capacity of the Jorf Lasfar Energy Company (JLEC) by two new units of at least 350 Mw each.

Royal Palace, Fes, Morocco - The Office National de L’Electricite and Abu Dhabi National Energy Company PJSC (TAQA), a global energy company, signed today a strategic partnership agreement, in the presence of King Mohammed VI of Morocco and H.H. Sheikh Mohammed bin Zayed Al Nahyan of the UAE, to extend the capacity of the Jorf Lasfar Energy Company (JLEC) by two new units of at least 350 Mw each.

This agreement aims to help the Office National de l’Electricite meet the strong growth in electricity demand in Morocco, by adding two coal fired units of at least 350 Mw each to the existing Jorf Lasfar Complex by early 2013. An International Request for Proposals (RFP) for the EPC will be issued within the next two weeks for the design and construction of the two supercritical coal fired units.

JLEC will build, own, and operate the new units 5 and 6 under a 30-year power purchase agreement.

Jorf Lasfar Energy Company, the first independent power producer in the Kingdom of Morocco, owns and operates 4 units of 350 Mw each, providing about half of the country’s annual electricity production.
With this agreement, TAQA display its confidence in the energy sector of Morocco and the emerging markets in general.

Peter Barker-Homek, Chief Executive Officer of TAQA, said: “Generating power for a dynamic economy like Morocco’s brings with it many challenges, because of the sheer pace of growing demand. Today’s announcement is testament to the decisiveness being shown by the ONE in securing critical power resource for Morocco’s future.

“The breadth of TAQA’s international power generation experience and our commitment to meeting the highest international standards can be seen in the excellence of the existing JLEC units. Both aspects will be fundamental to the success of this project and in delivering the expansion of this world class power station“

Commenting on the agreement, Ali Fassi-Fehri, CEO of ONE, said: “JLEC is the largest independent power facility in MENA region and one of Morocco’s largest companies, employing more than 300 people. As a company, it has consistently delivered against the ONE’s strategic objective of operational improvements providing the least costly additional kilowatt hour.”
“It is for this reason that we are confident TAQA will deliver, in partnership with the ONE, an expansion that will help to provide for Morocco’s energy security for decades to come.”

- ENDS -

Contact Information for Media:

Allan Virtanen
TAQA Media Relations, Abu Dhabi
Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. 

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. 

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL

TAQA and THEOLIA: Strategic partnership in Morocco 11 Jun 2008
Casablanca - Abu Dhabi National Energy Company PJSC (TAQA), a global energy company, and THEOLIA, a leader in the production of electricity from wind energy, signed on June 10th 2008 a strategic partnership agreement in the renewable energy sector in Morocco.

Casablanca - Abu Dhabi National Energy Company PJSC (TAQA), a global energy company, and THEOLIA, a leader in the production of electricity from wind energy, signed on June 10th 2008 a strategic partnership agreement in the renewable energy sector in Morocco.

This agreement aims to create a consortium of these two prequalified companies to respond jointly to the international invitation to tender for the construction and operation of a 300 MW wind farm located in Tarfaya, Morocco.

TAQA and THEOLIA further agreed a 50/50 partnership in the Compagnie Eolienne du Détroit (CED), including studying the possibility of optimizing wind sites in Morocco, notably the Abdelkhalek Torres wind farm near the current site of CED. This site, located in the North of Morocco and enjoying excellent wind conditions, 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 MWs (1).

TAQA and THEOLIA are two major players in the production of electricity in Morocco: TAQA owns and operates a 1,356 MW thermal power station, providing about half of the annual electricity production of the Kingdom; THEOLIA, with its 50.4 MW wind farm, is the leading producer of electricity from wind energy in Morocco.

With this alliance, TAQA and THEOLIA display their confidence in the potential of the renewable energy sector in Morocco and the emerging markets in general.

Peter Barker-Homek, Chief Executive Officer of TAQA, 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 CEO of THEOLIA: “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. ”

- ENDS -

Contact Information for Media:

Allan Virtanen
TAQA Media Relations, Abu Dhabi

Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.com

About TAQA

Established in 2005, TAQA is a diversified international energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA).

TAQA’s business is made up of three operating divisions spread across the entire energy value chain: power generation & water desalination; oil and gas exploration & production; and emerging & alternative energy technologies.

Power & Water: TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi. TAQA's power plants are located in the UAE, Morocco, Oman, Saudi Arabia, Ghana, India, and USA.

Oil & Gas: with operations in Canada, UK, the Netherlands, USA and Iraq, TAQA's oil and gas business includes exploration and production, underground gas storage and pipeline transportation.

Emerging & alternative energy technologies: TAQA Energy Solutions is dedicated to alternative and technology-driven energy initiatives for long-term efficient energy production and generation. 

TAQA’s vision is to deliver ‘Energy for Growth’: growth within the business; social and economic progress in the communities where TAQA operates; and increased value for our shareholders.

Over the past 40 years the UAE and Abu Dhabi have pursued a vision embodied by progressive development, investment and the highest global standards. TAQA is proud to align its strategy both domestically and globally to Abu Dhabi’s economic vision 2030, working towards sustainable economic development. 

For more information about TAQA visit: www.taqaglobal.com or Twitter: @TAQAGLOBAL