A consortium of banks has provided financing for Jordan’s Shams Ma’an Power Generation PSC’s solar farm, enabling the company to close financing for the 52.5-megawatt project.
Mizuho Bank, Japan Bank for International Cooperation, Nippon Export and Investment Insurance and Standard Chartered Bank provided the undisclosed amount of financing. First Solar will install the project.
Shams Ma’an Power Generation is jointly owned by Mitsubishi Corp. subsidiary Diamond Generating Europe, Qatar-based Nebras Power, a subsidiary of Qatar Electricity and Water Co., and Kawar Group.
The project, located in the Hashemite Kingdom of Jordan, has a 20-year power-purchase agreement with the National Electric Power Co., the country’s regulatory authority for power generation and distribution.
The power plant – which will be the largest facility of its kind in Jordan, representing one percent of the country’s overall generation capacity – will supply 160 million kilowatt hours of electricity per year, sufficient to power over 35,000 average homes in the country.