Risha Solar Plant

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The project consists of the development and operation of a 50 MWac (61.3 MWp) solar PV plant in Risha region, Mafraq Governorate. Risha For Solar Power Projects is the project company developing the plant and will ultimately be wholly owned by International Company for Water and Power Projects ("ACWA Power"). The plant has the capacity to power 12,000 households every year. This project will also result in 1.5 million Tons of CO2 saved over 20 years, equivalent to 79,000 tons of CO2 per year. The financing comprises senior loans of $22 million from the European Bank for Reconstruction and Development (EBRD) and $16 million each from Deutsche Investitions- Und Entwicklungsgesellschaft Mbh (DEG) and Arab Bank to Risha for Solar Power Projects PSC. The Power Purchase Agreement (“PPA”) and the Transmission Connection Agreement (“TCA”) for the project were signed with NEPCO while the Government Guarantee Agreement (“GGA”) was signed with the Ministry of Finance, simultaneously in March 2017. The project will deliver the lowest tariff (0.042 JD/kWh equal to 5.92 USD cents/kWh) across all renewable energy projects in Jordan including the Round I and II of the Photovoltaic Procurement program of the Ministry of Energy and Mineral Resources. Financing closed on December 20, 2017 in the amount of $54 million of debt and $15 million in equity contribution. https://ijglobal.com/data/transaction/38872/risha-solar-pv-plant-613mw http://www.ebrd.com/work-with-us/projects/psd/risha-solar-pv-project.html http://www.acwapower.com/en/news/press-releases/cwa-power-risha-achieves-financial-close-for-613-mwp-solar-pv-ipp-in-jordan/