Saudi Arabia’s ALJEES to fund solar project in Jordan
Saudi-based solar PV (photovoltaic) developer Abdul Latif Jameel Energy announced that it has secured funding for a major solar project in Jordan and also generate 435 million kWH of electricity per year
Saudi-based solar PV (photovoltaic) developer Abdul Latif Jameel Energy announced that it has secured funding for a major solar project in Jordan and also generate 435 million kWH of electricity per year.
The solar project will reportedly power more than 120,000 homes.
According to Trade Arabia, the transaction was done with the European Bank for Reconstruction and Development (EBRD) and the Netherlands Development Finance Company (FMO), through a $65m loan for the development of the Al-Safawi solar plant located in the north of Jordan.
This is Abdul Latif Jameel Energy’s third project in Jordan.
The new 51 MW plant will be located in Safawi, a region in the north of Jordan and an area with high solar potential.
The development of the project includes the design, financing, construction and management of the operation and maintenance (O&M) services of the photovoltaic plant, spanning 170 hectares, said a statement from the company.
Roberto De Diego Arozamena, CEO of Abdul Latif Jameel Energy, said: "Abdul Latif Jameel Energy has been leading the way on developing solar projects in the region, and our work in Jordan is part of that."
"Governments across the Middle East have set bold targets for renewable energy, just like in our home country of Saudi Arabia, who are forging ahead with projects like Sakaka PV project and Al Jandal Wind Farm. So we remain committed to being the leading solar PV development company in the Middle East and beyond, and contributing to the generation of clean and affordable energy."