Thursday, 09 December 2021 01:19 GMT

Nebras Power: deal signed for solar development in Jordan


(MENAFN) Nebras Power has inked a financing deal with AES Jordan and Mitsui & Co Ltd to build a solar power plant of 52 MWe in Amman, Jordan.

Under a 20-year power purchase agreement (PPA) with National Electricity Power Company (NEPCO), the generated electricity is to be purchased by NEPCO.

The project is valued at roughly $50m as it is anticipated to achieve next year a commercial operation status.

"We are delighted to start 2018 with such achievement showing our commitment to global expansion in line with our long-term investment strategy of reaching a net portfolio of over 5000 MW in the next five years. This is evinced by the rapid growth of the company since its inception in mid-2014," Nebras Power chief Fahad bin Hamad Al Mohannadi declared.

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