SunEdison Ma’an Solar Power Project

active

SunEdison Inc obtained a license from the Government of Jordan to build, own and operate a 23.8 MW solar power plant near the city of Ma’an in the south of Jordan for 20 years. ?The power generated form this plant would be sold to the Jordanian National Electric Power Company (NEPCO) under a 20-year power purchase agreement (PPA). The power plant would connect to the grid via a substation built by NEPCO. The power plant was developed by a 100% subsidiary of SunEdison, Inc. The total project cost was estimated at USD 66.0 million. In October 2014, SunEdison closed on a USD 50 million debt financing arrangement with the European Bank for Reconstruction and Development and the Overseas Private Investment Corporation (OPIC) with each providing USD 25 million each. Construction of the project was scheduled to commence in Q4 2014 with completion and grid connection was expected to take place in Q3 of 2015. https://www.opic.gov/press-releases/2014/sunedison-ebrd-and-opic-close-50-million-project-financing-arrangement-one-largest-solar-power-plants-jordan