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Finland's Taaleri buys into 200-MW solar project in Jordan

Solar panels. Author: Frédéric BISSON. License: Creative Commons, Attribution 2.0 Generic.

January 10 (Renewables Now) - Finnish asset manager Taaleri Oyj (HEL:TAALA) announced today it has acquired a 30% stake in the 200-MW Baynouna solar power project in Jordan from Abu Dhabi Future Energy Company, better known as Masdar.

The Finnish group has made the investment through Taaleri Aurinkotuuli, it said, without disclosing how much it paid for the minority interest.

With a direct current (DC) capacity of 248 MW, the Baynouna project is the largest solar scheme that is currently under development in Jordan. It will require a total investment of up to EUR 210 million (USD 252m). The International Finance Corporation (IFC) has led the debt financing for the project.

Upon completion, expected in the first quarter of 2020, the solar plant will be generating some 570 GWh of electricity per year. It will be sold to the Jordanian National Electric Power Company (NEPCO) under a 20-year contract.

(EUR 1.0 = USD 1.200)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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