Norway-based Scatec Solar has secured $100m in financing for three solar power projects in Jordan.
Expected to cost around $135m, the proposed projects will have an accumulated capacity of 43MW.
Scatec Solar has entered into financing agreements with its partners including Quest Energy Investment, European Jordanian Renewable Energy Projects and Greenland Alternative Energy.
The company and its partners will jointly develop and construct the solar projects.
The projects will generate 104,000MWh of energy annually which will be sold to the National Electric Power Company under a 20-year power purchase agreement.
Scatec Solar will handle construction and deliver operation and maintenance (O&M) services, upo completion of the plants in the second half of 2015.
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By GlobalDataThe company will hold 70% stake of the 10MW Oryx plant and 40% interest of the other two projects, totaling 33MW capacity.
Scatec Solar CEO Raymond Carlsen said: "Securing financing for the Jordanian projects is an important milestone for Scatec Solar, and an important contribution to meet our ambition of continued strong growth as an independent solar power producer."
The European Bank for Reconstruction and Development (EBRD) and French development agency Societe de Promotion et de Participation pour la Cooperation Economique will provide the debt financing.
Scatec Solar has a pipeline of projects under development in Africa, Europe, Asia, Middle East and the US.
