Slaughter and May is advising Attarat Power Company (APCO) and the project sponsors, Eesti Energia AS and YTL Power International Berhad, on the development of a 554 megawatt (gross) oil shale-fired power station at Attarat um Ghudran, Jordan (the Plan). The independent power project is notable for the use of an unconventional fuel, with the oil shale being mined, processed and converted to electrical power on site. APCO will develop, design, finance, construct, own, operate and maintain the Plant and related mine and provide power capacity and energy output to National Electric Power Company (NEPCO), a Jordanian public shareholding company.

On 1 October 2014 APCO and NEPCO (whose obligations are backed by the Government of the Hashemite Kingdom of Jordan) entered into a power purchase agreement (the PPA) for the sale and purchase of power capacity and energy output produced by the Plant. The PPA is for a term of 30 years from financial close, subject to extension. The Plant is scheduled to start generating electricity for general consumption in the second half of 2018. APCO also entered into a mining agreement with the Government of the Hashemite Kingdom of Jordan which grants APCO the right to perform mining operations and extract and consume oil shale on the site at Attarat um Ghudran. Slaughter and May advised APCO on these and other related project agreements.

CONTACTS

Corporate and Commercial: Simon Hall (partner), Richard Todd (associate), Brad Nicpon(associate), Samay Shah (associate)