The Abu Dhabi-based renewable energy firm Masdar is planning to develop a 200MW solar power plant in Jordan, the companys second renewable energy project in the kingdom.
The agreement, which was signed to coincide with the World Future Energy Summit (WFES) in Abu Dhabi, will lead to the development of the 200MW solar plant, which will involve investment of about $300m.
Masdars CEO Ahmad Belhoul told reporters on the sidelines of the WFES that financial close for the project is expected in the fourth quarter of 2016.
The UAE companys first renewable energy project in Jordan, the 117MW Tafila wind farm, became operational in September 2015.
The wind farm has been developed by the Jordan Wind Project Company, which is a partnership between Frances Inframed, 50 per cent, Masdar, 31 per cent and the Cypriot firm EP Global Energy, 19 per cent.