Ashurst advises the lenders on the financing of a captive PV project in Jordan
International law firm Ashurst advised the lenders on the financing of a captive 15.64 megawatt solar photovoltaic power project in Jordan (the Project) to be built and operated by a subsidiary wholly-owned by Adenium Energy Capital Ltd.
The plant will be constructed in Rashidiya, which is situated 4 kms from Tafila in Jordan. The electricity generated will be used to power a cement plant adjacent to the site under an energy savings contract and based on a net metering arrangement. This Project is one of the very few private offtaker transactions in the Middle East.