FIRST Solar, Inc. has signed an agreement to provide engineering, procurement and construction (EPC) services for the 52.5 megawatt (MWAC) Shams Ma'an photovoltaic (PV) power plant, in Jordan. The company has also finalized a long-term operations and maintenance (O&M) contract for the project.
First Solar significantly contributed to the development of the project, which successfully secured a 20-year Power Purchase Agreement (PPA) with the National Electric Power Company (NEPCO), the country's power generation and distribution authority. First Solar co-developed the project with Jordan's Kawar Group , and as part of its commitment to supporting additional foreign investment in the country's renewable energy sector, it elected to divest its stake to a consortium of investors consisting of Diamond Generating Europe Ltd., a subsidiary of the Mitsubishi Corporation; Nebras Power Q.S.C., a subsidiary of the Qatar Electricity & Water Company; and the Kawar Group . The terms of the sale were not disclosed.
"Shams Ma'an has already established a new benchmark for the independent production of renewable energy in the region, demonstrating how the selection of the right technology and service providers creates considerable value, which, in turn, helps attract experienced institutional investors," said Ahmed S. Nada, Vice President for the Middle East at First Solar. "We are proud to have been given this opportunity to leverage our industry-leading expertise in project development to create a truly remarkable renewable energy asset. We now look forward to delivering a world-class power plant that will directly contribute to efforts to address the country's urgent energy needs."
The power plant is an important component in Jordan's strategic energy diversification.
The Saudi Gazette
6 August
