Fotowatio Renewable Ventures (FRV, Madrid, Spain), an independent solar power producer, on March 28th,
2017 announced the financial close of two of the four projects awarded
in the second round of Jordan’s solar independent power producer (IPP)
tender.
Both solar photovoltaic (PV) projects represent a
combined investment of USD 180 million and will start construction in
the region of Mafraq, a premium location with high solar irradiation in
the north of the country.
Once construction is completed, the PV plants –
called Mafraq I and Mafraq II – will generate 133.4 MW. This represents
approximately 2% of Jordan’s total generation capacity, sufficient
energy to supply more than 80,000 Jordanian households per year.
Solar power at 6.9 and 7.6 USD cents per kWh
Mafraq I and Mafraq II will supply solar power at
6.9 and 7.6 USD cents per kWh respectively, prices below the average
cost of electricity in Jordan, FRV notes.
Mafraq I, the first FRV project in Jordan, received a
financing package from the International Finance Corporation (IFC), the
Dutch Development Bank (FMO) and the Europe Arab Bank, as part of the
government’s program to promote renewable energies in the country.
The IFC, a member of the World Bank Group, acted as
lead arranger and has syndicated part of the loan to the other two
entities. Likewise, it has also promoted the financing of the Finnish
development financier FinnFund and the IFC-Canada Climate Change
Program.
Mafraq II has received financial support from the
European Bank for Reconstruction and Development (EBRD) and the Society
for the Promotion and Participation for Economic Cooperation (PROPARCO).
source: http://www.solarserver.com
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