• Abdul Latif Jameel Energy and Environmental Services (a division of Abdul Latif Jameel International DMCC) owned FRV takes a leading role in diversifying national energy production in Jordan
  • First bidder to sign PPA in round two of 200 MW solar IPP, at Jordanian piasters 4.898 (US 6.93 cents) per kWh
  • 50 megawatt (65 MWdc) solar Photovoltaics (PV) power plant represents approximately 1.5% of Jordan’s overall generation capacity
  • Expected to power over 40,000 homes across Jordan and brings approximately 150 job opportunities during construction

Abdul Latif Jameel Energy and Environmental Services, and its portfolio company Fotowatio Renewable Ventures (‘FRV’), a leading global developer of large-scale solar power plants, announced today the signing of a Power Purchase Agreement (PPA) for a planned 50-megawatt (65 MWdc) solar PV power plant in the Hashemite Kingdom of Jordan. The PPA was signed with the National Electric Power Company (NEPCO), Jordan’s regulatory authority for power generation and distribution, and is valid for 20 years. The PPA was signed at Jordanian piasters 4.898 (US 6.93 cents) per kilowatt-hour.

In May 2015, Abdul Latif Jameel Energy and Environmental Services’ portfolio company FRV was selected by the Jordanian Ministry of Energy and Mineral Resources as preferred bidder to the second round of Jordan’s solar independent power producer (IPP) tender, totaling 200 MW. FRV is the first bidder to sign the PPA.

This PPA reinforces the commercial competitiveness of Abdul Latif Jameel Energy and Environmental Services in renewable energy, and its proven track record as one of the largest GCC-based solar PV developers and one of the leading solar PV developers in the world, with a pipeline of approximately 4.3 GWdc worldwide.

The plant, which will be developed in Mafraq, in the north of the Kingdom, is part of the Jordanian government’s plans to generate 10% of its energy from renewable sources by 2020, including 600 MW of installed solar PV. To commence operations in 2017, the power plant represents 1% of Jordan’s overall generation capacity and will supply 155 million kilowatt hours (kWh) of electricity per year, sufficient to power over 40,000 average homes in the country.

Through its portfolio company FRV, Abdul Latif Jameel Energy and Environmental Services is committed to take a leading role in diversifying national energy production in Jordan by building local capacity and establishing a lasting legacy of energy sector expertise. This project is the first step towards reaching the Kingdom’s targets.

Roberto de Diego Arozamena, Chief Executive Officer, Abdul Latif Jameel Energy and Environmental Services stated: “This signing signifies an important milestone for our energy business and we are well-positioned to further the growth of Jordan’s national energy production and support the government’s plans to source 10% of its total power from local resources by 2020. This agreement in Jordan builds on our commitment to develop the renewable energy sector throughout the Middle East North, Africa and Turkey region.”

Abdul Latif Jameel Energy and Environmental Services and FRV bring increased access, world-class know-how and financial support to the emerging solar PV market of Jordan. The company’s contract award for expanding Jordan’s solar PV power plant is in line with its strategy to work with governments across the Middle East, North Africa and Turkey (MENAT) region to diversify the energy mix and create a sustainable economy that is balanced socially, economically and ecologically. The project is expected to bring approximately 150 job opportunities during the construction phase, stimulating job creation in the Kingdom. Additionally, the plant will also help the Kingdom reduce its carbon footprint by displacing over 80,000  metric tons of Carbon Dioxide (CO2) per year, equivalent to removing about 17,000 cars from its roads.

Rafael Benjumea, Chief Executive Officer of FRV, said: “Our global track record of developing, constructing and delivering large scale solar power projects will ensure that we are able to support Jordan’s ambitions. We are committed to contributing to Jordan’s social and economic development, and believe that this project will make a strong contribution to building a strong and viable solar industry that will deliver clean energy to Jordanian homes and create new jobs.”

Abdul Latif Jameel Energy and Environmental Services acquired FRV in April 2015, a natural next step in its multi-year energy strategy and follows the successful joint venture partnership announced between the two companies in January 2014.

Today, Abdul Latif Jameel Energy and Environmental Services has ownership of FRV’s 4.3 GWdc pipeline of projects in emerging solar markets including the Middle East, Australia, Africa and Latin America. 4.3 GWdc of power is the equivalent of generating enough electricity to supply over 1,750,000 homes and remove approximately six million tons of Co2 emissions.

FRV will use polycrystalline modules in the installation of its plants and will provide operations and maintenance services for the project.

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