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Qatar's Nebras Power to take 24% in Jordan solar project

Solar panels. Source: Sunseap Group (www.sunseap.com).

November 7 (Renewables Now) - Qatar-based energy company Nebras Power QPSC announced on Monday it has signed a shareholder agreement that gives it a 24% stake in a 52-MW solar project in Jordan.

The company will co-finance, build, own and operate the solar park with US power group AES Corporation (NYSE:AES) and Japan’s Mitsui & Co Ltd (TYO:8031) at a site east of Amman. The partners previously entered into a 20-year power purchase agreement (PPA) for the entire output of the plant with the Jordanian National Electric Power Company (NEPCO).

Construction and financing contracts are currently being finalised, according to the latest statement. The photovoltaic (PV) plant is expected to commence commercial operation in 2019, Mitsui said back in April.

This is Nebras Power's fourth power project in Jordan and second to be using solar energy technology, it said.

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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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