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FINANCIAL NEWS
Saudi’s Acwa signs deal for Jordan’s power plant
24 Nov 2016
(MENAFN) Saudi-based Acwa Power has inked deals with two European banks in order to develop a 60.3 MW solar photovoltaic independent power plant in Jordan, Mafraq.
Additionally, the transaction involves USD27mn loan from each of the two banks; European Bank for Reconstruction and Development and Netherlands Dev. Finance Co.
The Saudi firm will offer elect to the Jordanian water and solar energy proejcts firms at the lowest tariff of 0.043JD/kWh in the Round II of the program.
The project will also be included in the assets of ACWA Power Renew Co., a new firm made to group the Saudi firm’s existing renewable energy portfolio.
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