Arabia One Solar PV Power Plant

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Arabia One for Clean Energy Investments developed a 10 MW solar PV power plant located in the Ma’an Development Area (“MDA”), south of the capital Amman, on a 20 year build-own-operate-transfer (BOOT) basis. The plant was expected to generate around 22GWh of electricity to serve around 10,000 people. All output generated by the Project was to be sold to Jordan’s National Electric Power Company (“NEPCO”) under a 20-year Power Purchase Agreement (“PPA”). Arabia One for Clean Energy Investments is a special purpose created by the sponsors - Ennera Energy and Mobility (40%), Korean Hanwha Engineering & Construction (30%) and Jordan based Arabia Trading & Consulting/ATC (30%) – to implement this project. Ennera is a 100% owned subsidiary of Ibarra-based Grupo CAF and ATC is a flagship company of Jordanian Arabia Group. The total project cost was estimated at USD 30 million. The project's loan agreements were signed in October 2014 with debt financing in the amount of USD 21 million. IFC provided a loan of USD 10.5 million.