Taqa this week received approval for its plans to float part of its Moroccan power venture on the Casablanca stock exchange, raising funds shortly before the completion of a major upgrade to the Jorf Lasfar coal-fired power plant.
Taqa plans to sell just over 14% of the Jorf Lasfar Energy Company (JLEC) on the stock exchange and to institutional investors in private placements. Taqa is spending $1.6bn to upgrade capacity by 700MW to 2,056MW. The two new units will come online next year. (CONTINUED - 248 WORDS)