Photovoltaic solar project would have a capacity of 20-40MW
The US’ AES has submitted an unsolicited application for a photovoltaic (PV) solar power project to Jordan’s Energy & Mineral Resources Ministry.
The developer has identified a site around a kilometre south of Amman that would be suitable for a 20-40MW solar facility.
Should the ministry approve the proposal, the project will be undertaken by AES Solar and 50:50 joint venture partner US-based Riverstone Holdings.
According to Steve Walsh, president of AES Middle East, the company would be capable of installing a solar project of this size within eight months.
The facility would be project financed with a combination of debt and equity. The sponsors also intend to leverage relationships with multilateral organisations to source financing.
A crucial issue is likely to be the tariff negotiated for the project. “We would need a tariff that works for us and works for them” says Walsh. “We think that we can provide a renewable resource at a common sense price that will help them diversify their energy portfolio.”
Jordan enacted a renewable energy law earlier this year that allows developers to submit unsolicited proposals. The government has six months to respond to a proposal.
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.