Jordan/Shams Ma’an Photovoltaic Project

Nippon Export and Investment Insurance (NEXI) has decided to provide Overseas Untied Loan Insurance (OULI) for Shams Ma'an Photovoltaic Project which will be operated by Shams Ma'an Power Generation PSC, owned by Mitsubishi Corporation's 100% subsidiary Diamond Generating Europe, Ltd. (DGE), Qatar-based Nebras Power Q.S.C. (Nebras), a subsidiary of Qatar Electricity and Water Company Q.S.C. (QEWC) and Kawar Group (Kawar) from Jordan, the Shams Ma'an lead developer.

This is the second project in Jordan for which NEXI has provided a loan insurance and the first Photovoltaic Project for NEXI.

 

This project, with a capacity of 52.5 MW, will be located at Ma'an Development Area (MDA) in the southern part of Jordan, and will be the largest solar photovoltaic project in Jordan. The project entered into a long-term Power Purchase Agreement with the National Electric Power Company (NEPCO) for a 20-year period from the plant operation.

 

This project will be financed by The Japan Bank for International Cooperation, co-financed with other financial institutions including Standard Chartered Bank (Tokyo Branch) and Mizuho Bank and NEXI will provide its insurance to the part of commercial banks' loan portion.

NEXI will continue to support the expansion of overseas business by Japanese companies and clean and sustainable energy development.

 

Reference

Types of Insurance	Overseas Untied Loan Insurance
NEXI Covered Lenders	Standard Chartered Bank (Tokyo Branch) Mizuho Bank
NEXI Covered Facility	Approximately US$ 52 Million
Covered Risk	Political Risk 100% and Commercial Risk 90%