Corys Environment secures Solar projects in Jordan

Corys Environment, the environmental investments arm owned by Green Coast Enterprises has successfully co-financed three 10MW solar PV power plants.
Zahrat Al Salam, Al Ward Al Joury and Al Zanbaq, located in the Ma'an development Area, south of the capital city Amman, Jordan. With an estimated project cost of US90 million for the three projects, this is part of Jordan's government Renewable Energy Program, which aims to increase renewable energy contribution to 10% of the country's generation mix by 2020. The combined projects will generate over 78 GWh, meeting the growing demand for electricity in Jordan as well as diversify the country's fuel mix. It is expected that the solar plants will generate electricity by the second quarter of 2015. 'It is an exciting milestone for Corys Environment to be part of this groundbreaking development for solar power in Jordan', stated David Auriau, CEO.' This represents Corys Environment's first solar infrastructure investment and it is fully aligned with the company's strategy of investing in assets with long-term ownership and government backed cash flows', he added.