Econostrum | Economic News in the Mediterranean



Voltalia takes a majority stake in 4 solar power plants in Jordan

Voltalia is now a majority shareholder in the three solar power plants in Ma'an (photo: Voltalia)
Voltalia is now a majority shareholder in the three solar power plants in Ma'an (photo: Voltalia)
JORDAN / FRANCE. Voltalia (€174.5 million consolidated turnover in 2019 and 994 employees in twenty countries) announces, on Thursday 5 November 2020, the signing of an agreement to acquire a 70% majority shareholding in four solar power plants in Jordan. With a total capacity of 57 megawatts (MW), they have been built, operated and partly developed by the French energy company since 2015.

The transaction comprises three plants of 11 MW each, all located in Ma'an (South of the country) and another of 24 MW located in Mafraq (North). Voltalia has been maintaining them since their commissioning in 2016.

The power plants benefit from a 20-year electricity sales contract signed in 2016. The revenues, in dollars, are guaranteed by the Jordanian government for the entire duration of the contract.  "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," underlines Sébastien Clerc, Voltalia's managing director.

"In Jordan, the demand for energy is expected to increase sharply: the installed capacity should grow by 2.5 gigawatts between 2017 and 2025 thanks to the competitiveness of photovoltaic energy", states a press release from the company.

Eric Apim

Thursday, November 5th 2020

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