Mubasher: Qatar's Nebras Power (Nebras) on Thursday announced that a three-company consortium has signed a financing agreement to develop a 52-MW solar power plant in Jordan, east of Amman.
The consortium comprises Nebras, AES Jordan “AES” and Mitsui & Co. “Mitsui”.
The project is Nebras’ fourth power plant in Jordan and reflects its commitment to expand its investments in the renewable energy sector, according to the company’s statement to the Qatar Stock Exchange (QSE).
With a total cost of around $50 million, the project is slated to be completed by 2019, the statement added.
"We are delighted to start 2018 with such achievement showing our commitment to global expansion in line with our long-term investment strategy of reaching a net portfolio of over 5000 MW in the next five years,” said Nebras Power chairman Fahad bin Hamad Al Mohannadi.
Under a 20-year power purchase agreement (PPA) signed in April 2017, Jordan’s National Electricity Power Company (NEPCO) will purchase the plant’s generated electricity.
