Empire Solar PV Plant

Active

The project entails the construction of a 50 MW solar photovoltaic plant located within the King Hussein Bin Talal Development Area near the city of Al Mafraq in Mafraq Governorate, 80 km north of Amman in Jordan. The Project will be one of the first utility-scale solar plants of this size in Jordan and will support the country in increasing its renewable energy capacity and reducing its reliance on costly hydrocarbon imports. Plant's capacity was reported at 50 MW and 67 MW by different sources. However, the EBRD website and submission form indicate capacity of 50 MW. Al Ambaratouria Ll Taka Al Shamsia ("project company") will implement the project promoted by Fotowatio Renewable Venture (FRV), subsidiary of Abdul Latif Jameel Group. The concession was awarded after a competitive bidding process with bid criteria being the lowest tariff. In total, 24 bidders participated in the second round of Jordan's solar program. Empire solar is one of four solar projects being developed under Jordan’s round two solar program, which total capacity is 200 MW. Jordan’s National Electric Power Company will offtake the electricity generated under a 20-year power purchase agreement. The total investment amounts to $98.4 million, being funded by 72:28 debt to equity. EBRD and the French development agency Societe de Promotion et de Participation pour la Cooperation Economique (Proparco) are providing $71 million, split equally. The debt financing agreement was signed in December 2016. FRV will contribute to the project $27.4 million in equity. Financial closure was achieved on February 28, 2017. http://www.ebrd.com/work-with-us/projects/psd/frvempire-al-mafraq-solar-pv-project.html https://ijglobal.com/data/transaction/36100/empire-solar-pv-plant-67mw Sole sponsor: FRV, ultimately owned by Abdul Latif Jameel Group