April 17 (Renewables Now) - UAE-based AMEA Power and Philadelphia Solar have achieved financial close on the 50-MW Al Husainiyah solar project in Jordan and are ready to launch construction.
The partners expect to start generating power from the plant in Maan governorate in the last quarter of next year. The produced electricity is expected to be enough to meet the demand of 42,000 homes and offset at least 100,000 tonnes of carbon dioxide (CO2) emissions per year, AMEA Power said on Tuesday.
The Al Husainiyah project, calling for an investment of USD 74 million (EUR 65.5m), is 70%-owned by AMEA Power, while Jordan-based Philadelphia Solar holds 30%.
The photovoltaic (PV) complex will use over 200,000 Philadelphia Solar panels of 330 Wp each that will be made in a factory near Amman. Its construction will be backed by a USD-59.2-million senior financing package from the Netherlands Development Finance Company (FMO) and DEG - the German Development Finance Institution. Each lender will provide USD 29.6 million.
(USD 1.0 = EUR 0.885)