Baltic Course: Eesti Energia's subsidiary signs agreements with government of Jordan

Attarat Power Company (APCO), which is partly owned by Estonian state-owned energy giant Eesti Energia, announced that following the comprehensive negotiations conducted since early 2014, it has signed a 30-year Power Purchase Agreement and other project agreements with the Hashemite Kingdom of Jordan to construct a 554 MW (gross) oil shale fired power generation capacity in Jordan, Eesti Energia informed the London Stock Exchange, cites LETA.

APCO has signed Power Purchase Agreement with NEPCO, Jordanian national electricity company, whose obligations are backed by the Hashemite Kingdom of Jordan. Term of the agreement is for 30 years from project financial close and NEPCO has a right to extend the term by additional 14 years. Power will be supplied at a very competitive levelised tariff that comprises of capacity and energy components and takes into account Jordan have very limited linkage to oil or commodity prices.

Construction of the power plant is expected to commence over the course of the following 12 months after conducting financing due diligence and finalising the funding arrangements. The power plant is scheduled to start generating electricity for local consumption in the second half of 2018.
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