Thursday, December 13, 2018
Latest News

Nebras Power signs deal for second solar project in Jordan

  • 24 January 2018
  • Author: QT01
  • Number of views: 1032
Nebras Power signs deal for second solar project in Jordan
Tribune News Network
The consortium of Nebras Power, AES Jordan, and Mitsui Co Ltd has signed a financing agreement to develop a 52 MWe solar power plant in Jordan, a company statement said on Wednesday.
The development of the plant, located east of Amman, marks the fourth power project for Nebras in Jordan after Amman East, IPP4 Al Manakhar and Shams Ma’an Power Plants. 
It is the second solar power project, which underlines the importance of clean energy projects for Nebras and reflects its commitment to expanding its investments in the renewable energy sector.
"We are delighted to start 2018 with such an achievement, showing our commitment to global expansion in line with our long-term investment strategy of reaching a net portfolio of over 5,000 MW in the next five years. This is evinced by the rapid growth of the company since its inception in mid-2014,” said Nebras Power Chairman Fahad bin Hamad al Mohannadi.
“Nebras Power shall continue its efforts to increase its electricity production capacity, taking into account the importance of the diversity of fuel and technology used,” said CEO Khalid Mohammed Jolo.
Chief Business Development Officer Faisal Obeid al Siddiqi said, “We are pleased to reach the financial closure for this project which is an expression of our strong partnership with Jordan. With the addition of this project, Nebras provides over 700MW to the electricity grid of Jordan, contributing to the steady growth in energy demand and the stabilization of the energy sector in the country.
The Project will sell the generated electricity to National Electricity Power Company (NEPCO) under a 20-year power purchase agreement (PPA) signed in April 2017 with NEPCO. The total project cost is approximately $50 million and is expected to reach commercial operation status in 2019.
Categories: Local News
Rate this article:
No rating

Please login or register to post comments.