DEG finances solar farm in Jordan
News from 2019-05-17 / DEG
With approximately 300 hours of sun per month, the potential for using solar energy is very high in Jordan. Given that the energy supply is currently dependent above all on imported oil and natural gas, the desert state is intent on increasing its energy independence through renewable energies.
DEG is investing in expanding renewable energies in Jordan. Located 200 kilometres south of Amman, the Al Husainiyah Power Generation Company solar farm is the third solar power plant to be financed by DEG in the country. The solar modules for the plant are produced in Jordan. The 50 MW plant is expected to produce an annual total of 144 GWh of electricity in future, providing an estimated 42.000 households with green power and creating around 330 new jobs. DEG is providing a long-term loan of USD 30 million to build the solar farm. The financing, which amounts to USD 60 million in total, was arranged by Dutch development finance provider FMO.
The solar farm will help to supply the country with sustainable energy, thereby avoiding an estimated 90,000 tonnes of CO2 emissions every year. The solar energy that is generated will be fed into the national grid over 20 years as part of a long-term supply agreement.