Safawi Solar Plant

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The project calls for the construction of 51 MW solar power plant located in Al-Safawi, Jordan. The power plant will generate approximately 143 Gigawatt hours (GWh) annually, serving approximately 60,403 customers. The system will house more than 200,000 photovoltaic panels with tracking technology. The project is expected to power 40,000 homes. Project is part of Jordan’s second round Renewable Energy IPP Program. Contract was awarded as a result of a competitive bidding process based on lowest tariff criteria. Jordan’s state utility NEPCO will offtake electricity under a 20-year PPA. TSK will undertake the EPC contract. The company received debt financing from the European Bank for Reconstruction and Development (EBRD) and the Netherlands Development Finance Company (FMO) in the amount of $65 million, split equally between them. The remaining cost was funded by equity ($28.3 million). Financial closure was reached on 20th September 2017. https://renewablesnow.com/news/frv-achieves-fin-close-for-51-mw-pv-project-in-jordan-583823/ https://www.pv-magazine.com/2017/09/25/jordan-financing-for-51-mw-pv-plant-secured-countrys-largest-solar-plant-of-103-mw-built/ https://ijglobal.com/data/transaction/38224/al-safawi-solar-pv-plant-51mw