Saudi's Acwa Power Buys Into 50-Megawatt Solar Plant in Jordanby
Acwa Power International, a Saudi Arabian renewable energy developer, acquired Sunrise Solar Energy Psc, a project company that is building a 50-megawatt solar power plant in Jordan.
Sunrise Solar System Jordan, a subsidiary of Greek developer SunRise Photovoltaic Systems, sold the project after winning the tender to construct it last May by bidding 0.043 Jordanian dinar (6 U.S. cents) a kilowatt-hour.
The unit will be part of a 150-megawatt solar complex in the Mafraq development northeast of the capital city of Amman, Acwa said in an e-mailed statement. It did not disclose the value of the transaction. Sunrise has signed a 20-year power purchase agreement with Jordan’s National Electric Power Company.
Germany’s ET Solutions AG will be providing engineering, procurement and construction services and Jordan’s Central Electricity Generation Co. and First National Co. for Operation and Maintenance Services, a subsidiary of Acwa, will operate and maintain the plant.
The government of Jordan has awarded power purchase agreements for 12 solar energy projects, seeking to install 200 megawatts.