Hareon Solar signs 61 MW PPA in Jordan
Hareon Solar Technology has signed a grid-connection deal and a 20-year PPA with the National Electric Power Co (NEPCO) for a 61 MW photovoltaic (PV) solar facility in Jordan.
This announcement comes after we reported, in mid May, that Hareon Swiss Holding, with $7.67 per kWh, won the development rights over the project in a competitive auction organised by the Jordanian Ministry of Energy and Mineral Resources.
The solar plant will be developed by Al Ambaratouria LL Taka Al Shamsia, a subisdiary of Haeron solar.
The total project investment is estimated at US$ 75 million. The project financing is expected to be provided by the European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC).
Construction works are expected to begin by th second half of 2016 and the project is planned to be commissioned in early 2017.
Additionaly, Hareon Solar Technology has recently announced plans to set up a wholly-owned subsidiary in Switzerland to invest in solar PV projects in Jordan. The firm will set up H2 Venture Swiss Holding in Switzerland. Meanwhile Hareon will combine with H2 Venture Swiss Holding to set up another subsidiary named Empire Solar PSC in Amman, to develop, construct and operate PV plants.
Country news
-
-
November 27, 2015
Abdul Latif Jameel Energy signs 50 MW PPA in Jordan
Abdul Latif Jameel Energy and Environmental Services, and its portfolio company Fotowatio Renewable Ventures (FRV), have announced the signing of a Power Purchase Agreement (PPA) for a 50 MW solar PV power plant in the Hashemite Kingdom of Jordan Read more -
July 08, 2014
Chinese financing for shale oil-gas fired power plant in Jordan
A consortium led by Enefit, the Estonian shale oil developer and the largest in the world, will build a 470MW oil shale-fueled power plant in Attarat um Ghudran, Jordan. Read more -
August 11, 2014
First Solar to build, operate and maintain power plant in Jordan
First Solar, Inc. has signed an agreement to provide engineering, procurement and construction (EPC) services for the 52.5 MW Shams Ma'an photovoltaic (PV) power plant, in the Hashemite Kingdom of Jordan. The company has also finalized a long-term operations and maintenance (O&M) contract for the project. Read more -
August 20, 2014
Russia’s Rosatom to build nuclear plants in Jordan
The Kingdom of Jordan and the Russian state energy provider, Rosatom, have announced plans to develop the Jordan's first nuclear power plant. Read more -
October 06, 2014
SunEdison, EBRD and OPIC close $50m project financing for Jordan Solar Power Plant
SunEdison, Inc. has announced the closing of a US$50 million debt financing arrangement with the European Bank for Reconstruction and Development (EBRD) and the Overseas Private Investment Corporation (OPIC) to finance the construction of a SunEdison owned 23.8 MW DC solar power plant in the Ma’an Governorate, in Southern Jordan. Read more
