Martifer Solar wins Jordan PPA
Martifer Solar and Dubai investment company Adenium Energy Capital have won a power-purchase agreement (PPA) for a 10MW PV plant in Ma’an, southern Jordan.
The two companies have entered a 20-year PPA with national utility Nepco at a tariff rate of $0.169, providing electricity much more cheaply than existing fuel-oil generation rates.
Martifer has been selected as the lead developer and will provide EPC and O&M services. Adenium will put up about $26m finance. This is its third major solar investment over the past two years, adding to its 65MW of projects in Japan and 60MW in Italy.
The 260,000-square-metre Jordan plant will use modules installed on single-axis trackers and is expected to produce 25GWh a year. It will generate more than 100 local jobs.
“We are pleased to be working together with Adenium Energy Capital and to have been awarded one of the coveted 12 agreements signed under the first round of projects from the Ministry of Energy and Mineral Resources in Jordan,” says Eduardo Pereira, Martifer's head of Middle East business development.
The projects have been awarded under the first round of Jordan's National Renewable Energy Plan, which calls for up to 600MW of solar to be connected to the grid by 2020. To meet this goal, the government has a target of generating 10% of its electricity from renewables by 2020.