Riyadh – Mubasher: Acwa Power has inked a power purchase agreement with National Electric Power Company (Nepco) for a new 61.3 megawatt-peak (MWp) photovoltaic plant, according to a statement.
Under the deal, Acwa Power will carry out the development, funding, construction, ownership, and operation of the plant located in the Risha province of Jordan.
The Riyadh-based firm will sell electricity to Nepco for a record-low tariff of JOD 42 fils per kilowatt-hour (kWh), the lowest tariff for solar energy ever presented for a Jordan-based project.
With the new project, Acwa Power’s portfolio in Jordan now increases to eight assets with an aggregate capacity of 1,665 MW representing almost 40% of the total installed capacity of electricity in the Kingdom.
“Once completed in 2019, the plant will save 79,000 metric tons of CO2, demonstrating Jordan’s commitment to renewable energy,” according to Nepco managing director Abdel Fattah Al Daradkeh.
Demand for electricity in Jordan is rising by 7% per year, due to the country’s population booms and mounting industrial needs, he added.
Acwa Power will be developing the new plant besides the existing Cegco asset of the Risha 150 MW Gas Turbine Plant.
