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Voltalia buys 70% stake in four Jordan PV plants

From pv magazine France

Capitalizing on the recent development of its solar hub in Egypt and its presence since 2015 in Jordan as an O&M service provider, Voltalia intends to become an electricity producer in this growing market, according to a press release published by the French group.

The company has agreed to buy a majority stake of up to 70% of a portfolio of four solar power plants in the Middle Eastern country. The portfolio includes three plants of 11 MW each located in Ma’an and a 24 MW plant in Mafraq, for a total of 57 MW.

These parks have been built, operated and partly developed since 2015 by Voltalia, which has also been maintaining them since 2016. They benefit from a 20-year PPA signed in 2016 under the country’s tender scheme for large scale PV projects.

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The buyer of the power stations, whose name was not disclosed, turned to the French group because of its good knowledge of power stations and its “long-standing links with the International Finance Corporation (IFC), a member of the World Bank Group, one of the main backers of these four power plants,” the company explained. “Thanks to our strong positions in Egypt and Jordan and our central role as a service provider for these solar power plants, we were able to seize an opportunity in line with our strategy of diversifying energy sources and geographies,” commented Voltalia CEO, Sébastien Clerc.

To date, solar energy represents 20% of the total installed capacity of Voltalia.

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Source: pv magazine