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Scatec Solar announces trio of Jordanian solar power plants
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Scatec Solar announces trio of Jordanian solar power plants
S
CATEC SOLAR ASA (and its partners have entered into financing agreements totaling USD 100 million for the development and construction of three solar power plant projects in Jordan. New projects will have a combined capacity of 43 MW, with a total investment around USD 135 million. The projects have been developed jointly by Scatec Solar and its Jordanian partners, Quest Energy Investment LLC, European Jordanian Renewable Energy Projects LLC and Greenland Alternative Energy LLC. Scatec Solar will construct the plants and in addition provide operation and maintenance services when the plants are
finalized and in operation. “Securing financing for the Jordanian projects is an important milestone for Scatec Solar and an important contribution to meet our ambition of continued strong growth as an independent solar power producer,” said Raymond Carlsen, Scatec Solar CEO. Scatec Solar will own 70 per cent of the 10 MW Oryx plant and 40 per cent of the two other plants, totaling 33 MW capacity. Completion of the solar power plants is scheduled for the second half of 2015. Annual production from the three plants is estimated at 104,000 MWh, generating revenues of some USD 17 million per year. The electricity produced will be sold under a 20-year power
purchase agreement with the National Electric Power Company (Nepco). All plants are located in the area nearby Ma’an City in southern Jordan. “This latest deal follows Scatec Solar’s partnership agreement with Norfund, the Norwegian Investment Fund for Developing Countries, to jointly invest in solar power projects to be developed in all countries within Norfund’s mandate. Under the terms of the deal, Scatec Solar will hold 70 per cent of the joint investment company, with Norfund holding the remaining 30 per cent. Investments will be made on a consensus basis in projects which meet the required return on capital employed.
OPDE begins construction on a new solar farm in Hothfield, UK
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PDE, A multinational solar company specialising in the development, investment, construction and operation of solar photovoltaic plants, has started construction of a new 6.9 MWp solar farm near Ashford in Kent. The new solar farm represents a total investment of over £7 million and is scheduled to be connected to the electricity network by December. The PV plant will comprise approximately 27,000 solar modules and will generate enough electricity to meet the equivalent annual demand of approximately 1,850 homes in the UK. OPDE has an active and successful UK development pipeline. The new plant in Hothfield adds to the 8.9MWp solar farm in East Sussex, a project announced in October. In addition, in April this year, construction of a 12MWp plant began in Alresford, Hampshire.
November/December 2014 | Renewable Energy Focus
9
Scatec Solar announces trio of Jordanian solar power plants
S
CATEC SOLAR ASA (and its partners have entered into financing agreements totaling USD 100 million for the development and construction of three solar power plant projects in Jordan. New projects will have a combined capacity of 43 MW, with a total investment around USD 135 million. The projects have been developed jointly by Scatec Solar and its Jordanian partners, Quest Energy Investment LLC, European Jordanian Renewable Energy Projects LLC and Greenland Alternative Energy LLC. Scatec Solar will construct the plants and in addition provide operation and maintenance services when the plants are
finalized and in operation. “Securing financing for the Jordanian projects is an important milestone for Scatec Solar and an important contribution to meet our ambition of continued strong growth as an independent solar power producer,” said Raymond Carlsen, Scatec Solar CEO. Scatec Solar will own 70 per cent of the 10 MW Oryx plant and 40 per cent of the two other plants, totaling 33 MW capacity. Completion of the solar power plants is scheduled for the second half of 2015. Annual production from the three plants is estimated at 104,000 MWh, generating revenues of some USD 17 million per year. The electricity produced will be sold under a 20-year power
purchase agreement with the National Electric Power Company (Nepco). All plants are located in the area nearby Ma’an City in southern Jordan. “This latest deal follows Scatec Solar’s partnership agreement with Norfund, the Norwegian Investment Fund for Developing Countries, to jointly invest in solar power projects to be developed in all countries within Norfund’s mandate. Under the terms of the deal, Scatec Solar will hold 70 per cent of the joint investment company, with Norfund holding the remaining 30 per cent. Investments will be made on a consensus basis in projects which meet the required return on capital employed.
OPDE begins construction on a new solar farm in Hothfield, UK
O
PDE, A multinational solar company specialising in the development, investment, construction and operation of solar photovoltaic plants, has started construction of a new 6.9 MWp solar farm near Ashford in Kent. The new solar farm represents a total investment of over £7 million and is scheduled to be connected to the electricity network by December. The PV plant will comprise approximately 27,000 solar modules and will generate enough electricity to meet the equivalent annual demand of approximately 1,850 homes in the UK. OPDE has an active and successful UK development pipeline. The new plant in Hothfield adds to the 8.9MWp solar farm in East Sussex, a project announced in October. In addition, in April this year, construction of a 12MWp plant began in Alresford, Hampshire.
November/December 2014 | Renewable Energy Focus
9