Dubai, United Arab Emirates, Adenium Energy Capital, Ltd. has announce that its 15.6 MW Solar Photovoltaic Power Project in Rashadeya, Hashemite Kingdom of Jordan in cooperation and partnership with Lafarge Cement Jordan, has reached financial closure on 29 November 2018. Adenium acted as the sole sponsor for this transaction, while Arab Bank PLC acted as the sole lender.
The power plant will supply electricity to Lafarge Cement Jordan's (LCJ) cement factory in Rashadeya on a take-or-pay basis under a corporate Energy Savings Contract for a minimum term of 15 years. The Project also features a net-metering component, whereby any electricity not directly used by the cement factory will be injected into the national grid by the offtaker. The commercial operation date for the Project is expected to be in Q2 2019.
This is a landmark project for Adenium and a first of its kind in the Middle East. It heralds a great step forward in terms of reliance on alternative energy in the production of cement whilst minimizing its ecological footprint by lowering carbon emissions. The Project has received the support of the Jordanian Ministry of Energy and Mineral Resources in keeping with Jordan's strategic goal of reducing dependency on imported fossil fuels by adding renewable generation capacity.
Vestas Wind Systems has won an engineering, procurement and construction (EPC) contract for the 52 MW wind project in Jordan. The project will be installed with 15 units of the V136-3.45 MW turbines...
Read moreJordan's Ministry of Energy & Mineral Resources (MEMR) has selected RAI Energy International to develop a 50 MW project in Jordan as part of MEMR's Initial Ranking for the Qualified B...
Read moreThe International Finance Corporation (IFC), a member of the World Bank Group, is providing a US$71 million financing package to fund the construction of the new Daehan Wind Power Plant in Jordan.&nbs...
Read moreIFC, a member of the World Bank Group, has arranged a pioneering financing package of up to US$80 million to fund the construction of a new wind power plant in Jordan, near the town of Tafila, the lat...
Read moreJordan’s Energy and Minerals Regulatory Commission (EMRC) has officially approved the construction of a 50 MW solar power plant by granting a license for to Al Husainiyah Power Generation Compan...
Read more