Amman, Jordan: ACWA Power and the National Electric Power Company (NEPCO) in Jordan officially announced today that the 50 MW Risha Solar PV Independent Power Plant (IPP) has commenced commercial operations as of 1st of December 2019, after completing all the required commissioning and start-up tests.
The power purchase agreement for Risha PV was initially signed by ACWA Power and NEPCO in 2017, setting the lowest tariff for renewable energy in Jordan at the time (0.042 JD/kWh). The Risha PV IPP was developed in line with the ambitions of the Government of Jordan to attract investment and ensure a 20 per cent contribution of renewable energy in the total energy mix of the country by 2020.
Through utilizing existing infrastructure, NEPCO was able to reduce the overall costs of the project and increase its efficiency. Moreover, this project will benefit the adjacent local communities, by creating jobs, and contracting services from local companies. This project is one of the many investments made by ACWA Power in the Jordanian energy sector, and we are confident in the success of our partnership with them.”
Eng. Thamer Al Sharhan, Managing Director of ACWA Power, said: “Jordan is a strategic stronghold market for ACWA Power, where we now have eight plants with over 1,600 MW power generation capacity. It has immense growth opportunities as it seeks to diversify its energy mix and secure a sustainable power supply, and we look forward to continuing our contribution into the socio-economic development of the country and the welfare of its people through the Risha PV project that will be operational as per the specified timeframe in the contractual agreement.”
“ACWA Power is proud to have been entrusted with the delivery of the Risha PV IPP based on our considerable international expertise in the solar power generation sector. Reaching COD within the specified time frame indicates our commitment to reliably delivering clean energy at affordable tariffs for Jordan and adds to our extensive portfolio of renewable energy projects across the region.”
Eng. Al Sharhan added: “the project will be managed and operated by distinguished local talent trained at highest industry standards of efficiency and professionalism. The Risha PV plant is a key addition to ACWA Power’s portfolio in the renewable energy sector. We look forward to expanding our investments in the energy sector in the Kingdom – one of the most mature and developed markets in the field.”
The Risha PV plant is located in Risha Area, Mafraq Governorate (300km north-east of Amman). With a capacity to power approximately 12,000 households every year, it will support the country in increasing its renewable energy capacity and reducing its reliance on costly hydrocarbon imports in addition to saving 1.5 million tonnes of carbon dioxide over 20 years.
The Risha PV IPP was financed by a number of renowned international and regional financial entities including the European Bank for Reconstruction and Development (EBRD), Deutsche Investitions- Und Entwicklungsgesellschaft Mbh (DEG) and Arab Bank.
About ACWA Power:
ACWA Power is a developer, investor and operator of a portfolio of power generation and desalinated water production plants currently with presence in 12 countries including in the Middle East and North Africa, Southern Africa and South East Asia regions. ACWA Power employs over 3,500 people with about 60% local employment. ACWA Power’s portfolio, with an investment value in excess of USD 45 billion, can generate 30.2 GW of power and produce 5.3 million m3 /day of desalinated water to be mostly delivered on a bulk basis to state utilities and industrial majors on long term off-take contracts under Public-Private-Partnership, Concession and Utility Services Outsourcing models.
ACWA Power, registered and head-quartered in the Kingdom of Saudi Arabia, is owned by eight Saudi conglomerates, Sanabil Direct Investment Company (owned by the Public Investment Fund of Saudi Arabia), the Saudi Public Pensions Agency and the International Finance Corporation (a member of the World Bank Group).
ACWA Power pursues a mission to reliably deliver electricity and desalinated water at a low cost, thereby contributing to the social and economic development of the communities and countries it invests in and serves.
ACWA Power strives to achieve success by adhering to the values of Safety, People and Performance in operating its business. For more info, please visit www.acwapower.com
Media contact details:
Mohamed Yousef Ibrahim
Manager – Marketing & Public Relations
Tags: #ACWAPower #Jordan #Risha #Solar #PV #Renewables
© Press Release 2019