Falcon Ma'an Solar Power

March 29, 2014, Catalyst signed a power purchase agreement for a 23MWp Solar PV independent power project (IPP), with the Jorden Government. One of hte MENA region's first Solar PV IPP's! The name of the project is Falcon Ma'an Solar Power.
Catalyst Private Equity structured the equity of the project with high quality co-investors. MEI co-developed the project and is a 33% shareholder.
Falcon Ma'an is one of the most attractive solar PV concessions in Jordan, and has the following attributes:
- 23MWpeak, fixed tilt (low risk), Solar PV (crystaline) technology
- Bankable PPA based on multi-later bank Involvement with Government and Developers
- Attractive tariff, $0.169/kwh, no escalation, for a 20 year term
- Project site is one of the highest solar radiation areas globally, in th eMa'an Development Corporation's (semi sovreign) Solar Park 1, with over 1,950 kwh/kwp per year. It is one of 8 projects in the Solar Park 1.
- Falcon Ma'an "neighbors" the substation, thus featuring lower transmission expense and losses, and also has access land for potential expansion, with minimal civil work required.
 
The construction progress has been compiled in a video which can be viewed if you click here.
 
Financial Closing with lenders was in June 2015, led by the IFC. COD October 2016 
For further information and available documents please click
1  Stakeholder Engagement Plan
2. Environmental and Social Performance - Annual Monitoring 
3. ToR Falcon Ma'an for ESIA
4. Final ESIA