Shams Ma'an PV Solar Power Plant

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The $168m project entails the development of a 52.5MW PV solar power plant located in Ma'an, in the Hashemite Kingdom of Jordan. The construction of the plant started in March 2015 and expected to come online by July 2016. The Shams Ma'an PPP project will be developed on build, own, operate (BOO) concession basis awarded by NEPCO for 20 years. Shams Ma'an Power Generation company is owned by Mitsubishi's subsidiary, Diamond Generating Europe (35%); Nebras Power (35%), a subsidiary of Qatar Electricity and Water Company (QEWC), and Kawar Holding (30%). First Solar was awarded with EPC and O&M contact. Equipment will be supplied by GE and First Solar. On 19 March 2014, it was announced that Shams Ma'an entered into a PPA agreement for 20 years with the National Electric Power Company (NEPCO). Bracewell & Guiliani (English law) and Khalief & Partners (Jordanian law) are the legal advisers to the sponsors. US$52m 18-year commercial loan was arranged by Mizuho and Standard Chartered Bank. JBIC arranged US$77m loan on a separate tranche. NEXI provided ECA cover for the commercial portion. Ashurst and Zu'bi advised the ECAs and banks on the deal. Loan agreement signing occurred on 18 January 2015. 3rd sponsor is Kawar Group with 30% shares.