(MENAFN) Qatar's Nebras Power, with its partners Diamond Generating Europe and Kawar Group, announced signing a finance agreement for Shams Ma'an Solar Power Plant Project in Jordan, The Peninsula Qatar reported.
Nebras , a joint company in which Qatar Electricity and Water Company (QEWC) owns 60 percent, Qatar Holding LLC owns 20 percent and Qatar Petroleum International Ltd has 20 percent stake, said that the agreement is for 18 years with capacity of 52.5MW, with Nebras Power owning 35 percent of the project, while DGE owning 35 percent and Kawar Group 30 percent
The financing of the project is jointly done by a group of international banks and export credit agencies including Japan for International Cooperation (JBIC), and Nippon Export and Investment Insurance (NEXI).
Under the agreement, Nebras Power along with its partners will finance the development of the project and own and operate the Shams Ma'an solar power plant in Ma'an Jordan, with the project becoming one of the first renewable energy projects and the largest of its kind in Jordan.
"We are proud of this investment which is considered an expansion to Qatari investments in Jordan and a translation of the exceptional relationship between Qatar and Jordan. This project will support meeting the power demand requirements in Jordan and will have positive impact on the continuous development in Jordan. Nebras Power will strongly focus on building its portfolio in a balanced manner which will include renewables," Nebras Power said in a statement.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.