A year after signing an agreement with the Jordan’s National Electric Power Company to set up the largest solar power project in the country, Masdar Group has finalised the financier for the projects.
According to media reports, the International Finance Corporation (IFC) shall provide funding for the 200 megawatts solar photovoltaic power project. The project shall be executed by a subsidiary of the Masdar Group – Baynouna Solar Energy Company.
Construction on the project will start later this year at the outskirts of capital Amman. Once commissioned, the project shall generate enough electricity to meet the annual demand of 110,000 homes and offset around 360,000 tonnes of carbon dioxide emissions every year.
In January 2016, it was also reported that Masdar had joined hands with ABB for the development of solar power projects in Jordan. Substations, required to link power plants to the power grid, and inverters supplied by ABB are already operational at various solar power projects in Jordan.
Jordan has set a target of installing 600 MW of solar PV capacity and 1,200 MW of wind energy capacity by 2020 to reduce its dependence on imported fossil fuels. The country has already conducted a number of auctions to allocate solar and wind energy projects and is planning to conduct more in the near future.