First Solar’s 52MW PV plant in Jordan has a new partner going forward.
Mitsubishi Corporation, through their subsidiary Diamond Generating Europe, Ltd., will operate a 35% equity share of the Shams Ma’an plant.
Other operators of the plant include the Qatar-based Nebras Power Q.S.C., a subsidiary of Qatar Electricity & Water Company Q.S.C., and the Kewar Group. Nebras will hold a 35% stake in the project, while Kewar will maintain a 30% share.
The project, which will be constructed in the Ma’an Development Area in the southern part of Jordan, is expected to commence operations in early 2016.
Mitsubishi will continue to pursue more opportunities to assist in the developing PV market in Jordan. This expansion to solar follows the company’s plans to double its net profit from non-resource businesses by 2020.