Eesti Energia to reduce its interest in Jordan project

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Submitted by editor on Fri, 02/27/2015 - 16:46

Eesti Energia to reduce its interest in Jordan project

23.02.2015, 15:36

State energy group Eesti Energia is planning to further reduce its interest in the Jordan oil shale project.

At present Eesti Energia owns 65 percent in the Jordan project enterprise Attarat Power Company (APCO).

In 2014 APCO signed a 30-year power purchase agreement and other project agreements with Jordan to construct a 554 megawatt oil shale fired power generation capacity in Jordan. APCO signed the power purchase agreement with NEPCO, Jordanian national electricity company, whose obligations are backed by Jordan. The agreement is valid for 30 years and NEPCO is entitled to extend the term by an additional 14 years.

http://www.balticbusinessnews.com/article/2015/2/23/eesti-energia-to-reduce-its-interest-in-jordan-project