29 Jun '15, 5am

World Bank Group’s MIGA supports 50 MW of solar PV in Jordan

The Multilateral Investment Guarantee Agency (MIGA, Washington, DC, US ), the political risk insurance and credit enhancement arm of the World Bank Group, on June 24th , 2015 announced it is backing the development, construction, and operation of four solar photovoltaic (PV) projects in Jordan, adding 50 megawatts to the country's grid. The PV plants in Ma'an and Mafraq benefit from a 20-year power purchase agreement (PPA) with the Jordanian state-owned utility, National Electric Power Company (NEPCO). “Most of Jordan's existing power capacity comes from fossil fuels – and much of its infrastructure is aging, inefficient, and vulnerable to supply disruptions,” said Wassef Sawaf, CEO of Adenium Energy Capital. “We hope to help the country transform its energy sector and appreciate MIGA's support as we move forward.” Project is part of the largest private sector-led solar in...

Full article: http://www.solarserver.com/solar-magazine/solar-news/curr...

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