Shamsuna Power Company LLC was the first privately-sponsored utility scale Solar Plant to be connected to the national grid as part of the first round of the Ministry of Energy’s direct proposals scheme.
Shamsuna’s 10MW PV plant is the only project of its kind in the Aqaba Special Economic Zone (ASEZ) in Jordan’s Red Sea port city of Aqaba.
Shamsuna’s Aqaba Solar Plant was the Kingdom’s first grid-connected solar plant to reach commercial operations (COD) in February 2016. The Plant was also the first solar project to receive a generation license from the Energy and Mineral Resources Commission, as well as to reach financial close and commence construction.
With a capacity of 10MW, the plant led the way in showcasing how the country may harness the power of the sun, by generating around 19.5 GWh of clean energy annually.
Shamsuna signed a 20-year power purchase agreement with the National Electric Power Company (NEPCO) in 2014.
Shamsuna Power Company’s sponsors are Foursan Capital Partners I, a private equity fund with a primary focus on Jordan and the region, and equity partner Jordanian businessman Samer Judeh.
Shamsuna’s lead lenders are the International Finance Corporation (IFC) – a member of the World Bank Group.