Abdul Latif Jameel Energy is one-step closer to powering 80,000 homes in Jordan with clean energy, as its two solar PV projects in the country successfully achieved financial close.
Speaking during the visit of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud to Jordan in March 2017, Omar Al-Madhi, CEO of Abdul Latif Jameel Energy, Saudi Arabia, commented: “Our projects around the region, including in Jordan, clearly exhibit the great potential for solar in the Middle East.”
“The electricity we are producing in Jordan is being generated at low cost – less than the average price of electricity in the country. It is financially viable, as well as having a positive impact on the environment. Such projects provide proof that solar can be the sustainable energy source for the region, including in Abdul Latif Jameel’s home market of Saudi Arabia.”
“With their development, we can contribute to the generation of clean and affordable energy, fostering the region’s sustainable growth. That is why we remain committed to being the leading solar development company in the Middle East and beyond.”
The solar plants, Mafraq I and II, represent a combined investment of US $180 million and will start construction shortly. They are being developed by Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy. Once they begin operations in 2018, the plants will generate 133.4 MWdc in total – approximately 2 percent of Jordan’s total generation capacity and enough to supply more than 80,000 households.
Each project will avoid the emission of over 80,000 tons of CO2 per year, equivalent to removing approximately 17,000 cars from the country’s highways.
As part of its commitment to the social and economic development of the communities where it operates, FRV, together with IFC, EBRD and PROPARCO, signed two scholarship agreements with IE University in Madrid in relation to these projects.
The scholarships, called Young Talented Leaders, are intended to cover the training and accommodation expenses of two Jordanian students for the completion of bachelor’s degree courses at IE University. One of them has been awarded to Sarah Riyad al Atiyat, who began her studies in September 2016. The second one will be awarded for this academic year, 2017-2018.