Al-Mohannadi and al-Jolo with Ensour and other dignitaries at the ground breaking ceremony of Ma’an project in Jordan.
Nebras Power, with its partners Diamond Generating Europe, a wholly-owned subsidiary of Mitsubishi Corporation and Kawar Group held the ground breaking ceremony of Shams Ma’an solar power plant in Amman on Monday.
The new plant, the first renewable energy project in Jordan, has a capacity of 52.5 MW. Nebras Power owns 35% of the project, while DGE owns 35% and Kawar Group has the remaining 30% stake.
The ceremony was held under the patronage and presence of the Prime Minister of Jordan Abdullah Ensour, Princess Sumiah Alhassan and a number of ministers and high ranking officials.
Nebras Power was represented by its chairman Fahad al-Mohannadi and CEO Khalid al-Jolo. Nebras Power along with its partners will construct the project in 16 months and the commercial operations are expected to be ready in September next year.
Shams Ma’an Power Generation company has already signed a 20-year power purchase agreement with National Electric & Power Company of Jordan. It has also signed an engineering, procurement and construction contract and operations and maintenance contract with First Solar of the US.
Speaking on the latest project, al-Mohannadi hoped the new project would contribute to accelerate economic development in Jordan.“The significance of the project comes from being the first solar project of Jordan and also the first investment for Nebras Power in the country. It is also a confirmation of the company’s policy of diversifying the fuel in its future investments.”
Al-Jolo described the project as an expansion for Qatari investments in the field of power generation in Jordan. “In the presence of abundant investment opportunities and increasing demand in the growth of energy at the global level, Nebras Power will take advantage of its resources and abilities to effectively provide integrated and reliable solutions using multiple sources at competitive prices.”
Ensour highlighted the necessity of switching to renewable and alternative energy sources in his country and its resultant impact on the national economy and the country’s development.
Nebras Power was established in 2014 as a Qatari joint stock company in which Qatar Electricity and Water Company owns 60%, Qatar Holding owns 20% and Qatar Petroleum International Ltd owns 20%.
The authorised share capital of Nebras Power is $1bn.