Trina Solar signs solar deal in Jordan
Trina Solar Lhasannounced that it has entered into an agreement for the design, build and operation and maintenance of the 10 MW Shamsuna Solar Project in Aqaba, Jordan with Shamsuna Power Company.
Foursan Capital Partners will hold a 85% stake and Shamasuna Power will hold a 15% stake in the project, respectively. The project is being financed by International Finance Corporation ("IFC") and a small syndicate of lenders. Construction of the project is scheduled to commence in December 2014 with completion and grid connection expected in the second quarter of 2015. Once the plant is completed, Trina Solar will provide Operation and Maintenance services on the project based on a 5 year service agreement with a possible 5 year extension upon mutual agreement.
The solar farm, located in the Aqaba Special Economic Zone, southeast of Aqaba, Jordan, will utilize 40,320 of Trina Solar's 250Wp TSM- PC05A modules. Once operational, it will be the largest solar farm in Aqaba, Jordan. All output generated by the project will be sold to Jordan's National Electric Power Company ("NEPCO") under a 20-year Power Purchase Agreement ("PPA") backed by a full sovereign guarantee from the Government of Jordan. The project will generate over 19 GWh of power annually helping to meet the growing demand for electricity in Jordan and reducing carbon emissions by approximately 11,500 tons per year.
"We are delighted to work with Trina Solar to build the largest solar farm in Aqaba, Jordan," said Shadi Haddadin, The Solar Plant manager of Shamsuna. "Trina Solar's global leadership, durable quality modules, as well as its proven track record distinguishes it as the best partner for us to work with. We regard this partnership as a win-win endeavor, and we look forward to continuing our success by working with Trina Solar again in the future."
"We are excited to be part of this groundbreaking project and are proud to have been accepted by IFC as the Engineering, Procurement and Construction ("EPC") provider for this project," said Qi Lin, President of PV Systems Business Unit of Trina Solar. "The project provides us with valuable first-hand experience in operating a solar system in a desert environment, as well as substantial knowledge of local grid companies that will help Trina Solar accelerate its pace of project development in the Middle East. The Jordanian government has introduced new incentives to encourage the development of solar projects throughout the country with the aim of increasing renewable energy contributions to 10% of the country's generation mix by 2020. We look forward to playing a meaningful role in Jordan's efforts to develop its solar sector and to leveraging Trina Solar's global brand, proven track record and technological expertise to rapidly penetrate the broader Middle East market."
