SAN JOSE, California: RAI Energy International, Inc. ("RAI Energy"), the global energy development company, announced today that Jordan's Ministry of Energy & Mineral Resources (MEMR) selected RAI Energy to develop a 50-megawatt (MW) project in Jordan as part of MEMR's "Initial Ranking for the Qualified Bidders for Direct Proposals Submission for Solar PV Projects/Round III based on Base Proposals (50) MW." RAI Energy was listed as number two in MEMR's ranking. The selection was made as part of an extensive competitive bidding process. RAI Energy looks forward to MEMR's selection of its Alternate Proposals for 100 MW.
RAI Energy will develop the project, to be named Jordan Solar Two, in Ma'an, Jordan. When it enters operations in 2020, the project will generate enough solar energy to supply nearly 40,000 Jordanian households with clean, reliable and affordable electricity and avoid the emission of 75.2 tons of CO2 per year. The project is expected to begin construction in 2019. Jordan Solar Two will be granted a 20-year power purchase agreement with the National Electric Power Company (NEPCO).
"RAI Energy appreciates Jordan's commitment to developing new and affordable sources of solar energy in Jordan, one of the fastest growing solar sectors in MENA," said RAI Energy President and CEO Mohammed S. Alrai. "By undertaking a rigorous and competitive solar auction, Jordan exemplifies how countries can attract the highest quality and lowest cost sources of solar energy. We remain committed to working with MEMR to advance Jordan's solar energy goals."
In addition to its activities in Jordan and other MENA energy markets, RAI Energy continues to develop renewable energy and storage projects in the U.S. To-date, RAI Energy has developed more than 200 MW of utility-scale and distributed generation solar PV projects and has a robust portfolio of distributed generation solar and energy storage.
About RAI Energy International, Inc.
Based in Silicon Valley, California, with regional offices in Amman, Jordan, RAI Energy International, Inc. (RAI Energy) is a global energy development company managed by a group of highly qualified executives with collectively more than 120 years of experience in the energy sector. RAI Energy is focused on utility-scale PV and energy storage in the U.S. and MENA. For more information on the company, please visit www.raienergy.com.
CONTACT:
Katherine Potter
RAI Energy International
408/398-6611
katherinep@raienergy.com
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