FMO & DEG Back 50 MW Jordan Solar Project

AMEA Power & Philadelphia Solar Joint Venture Al Husainiyah Power Generation Secures $59.2 Million Senior Financial Package As Equal Amounts From Dutch Development Bank FMO & Germany’s DEG For 50 MW Jordan Solar Plant
05:44 PM (Beijing Time) - 16. April 2019
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Philadelphia Solar’s locally manufactured solar panels will be used for the 50 MW project in Jordan for which financial closure has been achieved from FMO and DEG. Pictured is the 23 MW Al Badiya Solar Power Plant in Mafraq, Jordan with 12.6 MWh of storage capacity that came online in February 2019, and for which the company supplied 82,000 modules. (Photo Credit: Philadelphia Solar Jordan/Facebook)

Key Takeaways

  • Project company Al Husainiyah Power Generation Company for a 50 MW solar power plant in Jordan has secured $59.2 million senior financial package for the project
  • Dutch development bank FMO is pooling in $29.6 million for the package while mobilizing an equal amount from German Development Finance Institution, DEG
  • Philadelphia Solar, co-owner of the project company with AMEA Power, will provide over 200,000 solar panels with 330 W capacity at its local manufacturing facility

A joint venture (JV) of UAE based AMEA Power and Jordan located Philadelphia Solar in Jordan will get $59.2 million senior financing package for a 50 MW solar power plant in Ma’an Governorate, south of Amman. The JV, Al Husainiyah Power Generation Company, is the project company that’s building this utility-scale solar park.

Dutch development bank FMO is backing the project shelling out $29.6 million for what it calls will be the ‘first internationally financed utility-scale solar park in Jordan that deploys locally manufactured PV modules’. Additionally, FMO is mobilizing an equal amount from German Development Finance Institution, DEG.

More than 200,000 solar panels with 330 W capacity each will be manufactured by Philadelphia Solar’s fab in Al-Qastal Industrial Area, near Amman.

Not only is it 100% green, it also has a high developmental value because the project will source its PV panels from a local manufacturer, thereby supporting hundreds of good quality jobs,” said FMO Chief Investment Officer, Linda Broekhuizen about the project.

Jordan’s Energy and Minerals Regulatory Commission (EMRC) granted a license to Al Husainiyah Power to construct the 50 MW plant in September 2018, as part of the country’s second licensing round under which it approved 250 MW of PV capacity in total (see Jordan Grants License To 50 MW PV Project).

In February 2019, Philadelphia Solar launched commercial operations of a 23 MW/12.6 MWh solar+storage power plant in Jordan’s Al-Mafraq region calling it the largest and first PPA power storage plant in the Middle East and the region (see Jordan Hosts MENA’s 1st Solar+Storage Project).

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani