Taaleri Group obtains 30% share of Baynouna Solar Power Project

Taaleri group declared obtaining 30% minority interest in the Baynouna Solar Power Project in Jordan from Abu Dhabi Future Energy Company (Masdar), a renewable energy corporation fully owned by Mubadala Investment Company.

Baynouna is mainly a solar Photovoltaic project possessing a capacity of 200MWac/ 248MWdc. The estimated cost is pegged at EUR 210 million. Taaleri will partake in the construction and operation of the solar plant alongside the majority shareholder Masdar. The project will generate approximately 570 gigawatt hours of electricity per year, post commencing operations in the first quarter of 2020. The generated electricity will be sold to the Jordanian National Electric Power Company (NEPCO) under a 20-year Power Purchase Agreement. The project is estimated to mitigate greenhouse gas emissions by 360,000 tons of carbon dioxide emissions per annum.

Taaleri Energia’s Investment Director, Petri Isotalus said “Taaleri is very pleased to invest in this significant industrial scale solar PV project alongside Masdar, one of the strongest renewable energy companies in this industry. Jordan has world-class solar resources and reliable contractual framework for renewable energy. We are very excited to start the construction and production of sustainable and competitive solar power electricity and support Jordan in meeting its renewable energy targets.”