AMMAN: ACWA Power announced Monday that it has agreed to a deal with the government of Jordan to develop, finance, construct and own a 61.3MW PV installation in Risha — a province of Eastern Jordan.
ACWA Power submitted a record-low tariff of JOD 42 fils per kWh, the lowest tariff for solar energy ever presented for a Jordan-based project, 3.3% lower than the previous lowest tariff provided to Jordan with the Mafraq PV project, which was also developed by ACWA Power. Once it reaches competition in Q1 2019, the project will produce enough energy to power 12,000 homes. Dr. Ibrahim Saif, minister of energy & mineral resources for the Hashemite Kingdom of Jordan, said: “Today the kingdom of Jordan takes another step toward sustainable and enduring energy security. Under the leadership of His Majesty King Abdullah II, the country has set ambitious renewables targets that not only reflect our needs at present but also safeguard us for the future.” Saif added: “Energy projects are long-term by nature, and in selecting ACWA Power, we have partnered with a business that is invested in Jordan’s energy infrastructure. With Al Risha, ACWA Power is coming on board as an investor, as well as a developer, and that commitment reflects their continued confidence in Jordan’s political stability and economic viability.”
The new PV project stands as part of Jordan’s new goals toward diversifying its electric grid. Demand for electricity in Jordan is rising by 7% a year, with roughly 1,000MW solar and wind projects already underway within the country. ACWA Power Chairman Mohammad Abunayyan said: “The kingdom of Jordan has long recognized that renewable energy can offer safe, reliable power to the public. Together with our consortium, ACWA Power has facilitated the kingdom’s latest investment by applying our cost leadership and renewables expertise to the Risha facility. Once complete, the project will deliver solar energy at the lowest possible cost to 12,000 households.
