Jordan Signs Largest Solar Energy Project Deal

تم نشره في Sat 22 October / Oct 2016. 12:00 AM
  • Solar Panels - (Al Ghad)

AMMAN — The National Electric Power Company (NEPCO) and the Abu Dhabi Future Energy Company (Masdar) Saturday signed an energy purchase agreement of the 200-megawatt photovoltaic (PV) solar plant, Jordan's largest solar energy project.

The deal was sealed by NEPCO Director General Abdul Fattah Al Darabkeh and Masdar CEO Mohammad Al Ramahi in a ceremony patronized by Prime Minister Hani Al Mulki and attended by United Arab Emirates (UAE) Minister of State and chairman of Masdar Sultan Al Jaber.

The deal followed the singing of an agreement between the Ministry of Energy and Mineral Resources and Masdar for the development, ownership, operation and maintenance of the solar PV plant, during the Abu Dhabi Sustainability Week in January.

The Bainounah Power Co, which is wholly owned by Masdar, will oversee implementation and accomplishment of the project.

Mulki earlier welcomed Al Jaber, who conveyed to him the greetings of UAE President Sheikh Khalifah Bin Zayed Al Nahyan and Crown Prince Sheikh Mohammad Ben Zayed, who expressed their keen interest to further cement ties with Jordan.

Masdar also signed the government's guarantee agreement with the Ministry of Finance as well as a land lease agreement with the Department of Land and Survey. Al Jaber commended the investment climate in Jordan, stressing that the "balanced" agreement the Kingdom had recently reached with the International Monetary Fund would give reassurance about the investment environment in the Kingdom and put the country's economy on the right track.

The talks, which were attended by energy minister Ibrahim Seif and other ministers, dealt with various aspects of cooperation between the Kingdom and the UAE, namely in the renewable energy field and the prospect of benefiting from either side's expertise in this field.

Jordan sees the new solar PV plant as a success model that will further advance commercially viably renewable energy projects at the level of service facilities, and help meet the growing demand on energy in the region in addition to boosting the share of renewables in the overall energy mix.

Seif said the project's signing underlines the progress Jordan had made in major investments to bolster energy security "in a manner compatible with HM King Abdullah's vision to boost the energy mix and meet the increasing domestic demand on electricity in the future through sustainable sources".