Masdar + Taaleri Energia inaugurate solar park in Jordan: UAE renewables firm Masdar and Finland-based investment management company Taaleri Energia have inaugurated the 200-MW Baynouna Solar Park in Jordan, according to a statement out Saturday. The project was developed via a power purchase agreement between Masdar and Jordan’s state electricity provider, the National Electric Power Company, and has been in commercial operation since 2020.

The details: The USD 260 mn project generates 560 GWh of electricity a year and offsets 360k tons of CO2 emissions, making it the largest clean energy project in Jordan. The project is expected to produce enough energy to power nearly 160k homes.

Who’s footing the bill? Financial institutions including the International Finance Corporation, the OPEC Fund for International Development, the KfW Group’s DEG, and the Japan International Cooperation Agency supported the project.

Background: Established in 2016, the Baynouna Solar Energy Company is a joint venture project established in 2016 between Masdar — who own a 70% stake — and Finland’s Taaleri Energia who own the remaining 30%. The two companies invested USD 230 mn into the company, according to Baynouna’s website.

Masdar already has assets in the country and more in the pipeline: The renewables giant inaugurated the USD 287 mn, 117-MW Tafila wind farm in the country’s governorate of Tafila in late 2015. The wind farm upped the country’s power production capacity by 3% when it became operational in September of that year. Masdar also inked an agreement with the Jordanian energy ministry to develop an additional 2 GW of renewable energy projects in the country, according to the statement.