ACWA Power acquires Jordan’s Sunrise Solar Energy
Saudi Arabia’s ACWA Power has acquired Jordan’s Sunrise Solar Energy after signing a 20-year power purchase agreement with NEPCO
Saudi Arabia’s ACWA Power has acquired Jordan’s Sunrise Solar Energy.
The news follows ACWA’s recent signing of the power purchase agreement (PPA) for the repowering of the 485MW Hussain CCGT Integrated Power Plant (IPP).
The latter was selected by Jordan’s Ministry of Energy and Mineral Resources as the project company for a 50MWe photovoltaic (PV) IPP. The contract was tendered in Round II of the country’s PV Procurement Programme.
The project has been designed to deliver solar energy at a record-low tariff of $0.06 (JOD0.43) per kWh, 6% cheaper than the nearest comparable tariff.
Commenting on ACWA’s acquisition of Sunrise Solar Energy and its upcoming involvement in the PV IPP project, Thamer Al Sharhan, managing director, said: “Stepping into this project to realise this new benchmark tariff of 6.13 US-dollar cents per kWh for PV energy in Jordan once again demonstrates ACWA Power’s commitment to cost leadership in power generation.
“This project, together with the recently launched Husain Thermal Repowering Project, also helps to increase economic activity in the country while simultaneously reducing the cost of producing electricity and lowering the carbon footprint of the generation portfolio of Jordan,” he added.
The plant will be located in Mafraq Development Area, 50km northeast of Amman, and will border two other plants to form a 150MWac solar complex. The PPA and connection transmission agreement (CTA) for the project were signed by Sunrise Solar Energy and NEPCO in January.
Germany’s ET Solutions will act as the engineering, procurement, and construction (EPC) contractor for the project. Operations and maintenance (O&M) will be undertaken by Jordan’s CEGCO in cooperation with ACWA Power subsidiary, NOMAC.
Rajid Nanda, chief investment officer of ACWA Power, commented: “We capitalised on a very unique opportunity to consolidate our leading position as the most significant power generation capacity provider through the CEGCO portfolio, all the while continuing to reliably deliver clean energy at the lowest ever tariffs for solar PV in the region.”