Voltalia takes lion's share in 57-MW solar portfolio in Jordan

French renewable power producer Voltalia SA (EPA:VLTSA) has agreed to purchase a 70% interest in a 57-MW portfolio of solar projects in Jordan, it said on Thursday.

The specific portfolio consists of three photovoltaic (PV) plants in Ma’an governorate, each of 11 MW, and a 24-MW park in Mafraq. Voltalia was involved in the development of the four schemes and was responsible for their construction and commissioning. It has also been taking care of their maintenance since commercial operations were achieved in 2016.

The projects were realised with financing from the World Bank and operate under a 20-year power purchase agreement (PPA) with a public utility, bringing “dollarised and guaranteed” revenues. Their owner, whose name was not specified, “naturally turned” to Voltalia for the sale in view of the company’s involvement, the French firm said.

Following the deal, the share of solar in Voltalia’s total installed capacity has increased to 20%, the company said and committed to further expand its solar footprint in the three main regions it operates.

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