SunEdison Inc. has closed a $50 million debt financing arrangement with the European Bank for Reconstruction and Development and the Overseas Private Investment Corp. to finance the construction of a 23.8 MW solar power plant in Ma'an, Jordan.
The project will incorporate SunEdison's 330 monocrystalline modules mounted on AP90 single-axis trackers. Construction is set to begin by the end of the year, with interconnection scheduled for the third quarter of 2015. The system is expected to generate approximately 57 GWh of electricity per year.
"The facility will sell electricity to the Jordanian National Electric Power Co. (NEPCO) under a 20-year power purchase agreement. The power plant will connect to the grid via a substation that will be built by NEPCO.