Mitsubishi to hold 35% in 52.5-MW PV plant in Jordan

Jun 26, 2014 - Japanese trading group Mitsubishi Corp (TYO:8058) said today it will hold a 35% stake in the 52.5-MW Shams Ma’an solar photovoltaic (PV) project in the southern part of Jordan.

The interest is in the hands of Mitsubishi's fully-owned unit Diamond Generating Europe Ltd (DGE). Qatar Electricity & Water Company QSC (QEWC) and local developer Kawar Group are the other two project owners with stakes of 35% and 30%, respectively.

The Shams Ma’an PV plant will be located at the Ma’an Development Area (MDA) and will use thin-film PV panels supplied by US company First Solar Inc (NASDAQ:FSLR). It is expected to begin operations in early 2016. The output will be sold to the National Electric Power Company (NEPCO) under a long-term power purchase agreement (PPA).

First Solar will also be in charge of the engineering, procurement and construction (EPC) activities for the project, which is one of the biggest of its kind in Jordan.

Under a renewable energy law enacted in 2012, Jordan aims to add some 1,600 MW of clean energy capacity by 2020.

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