News | April 25, 2014

AMP Solar Group Inc. And Evolution Solar Inc. To Provide Solar Power In Jordan

TORONTO--(BUSINESS WIRE)--

AMP Solar Group Inc. (“AMP”), as majority partner in a consortium comprising Evolution Solar Inc. (“Evolution”) as the Lead Developer, RAI Energy International, Inc., and Global Energy Consultants LLC, is pleased to announce the execution of a power purchase agreement (“PPA”) for a 20 MWAC solar PV plant in the Hashemite Kingdom of Jordan. The PPA is with Jordan’s National Electric Power Company and will benefit from a guarantee provided by the Government of Jordan. The solar plant is expected to be operational in mid-2015 and will generate enough electricity to supply approximately 12,000 families and serve a part of the country where there is increased demand in the local economy as a result of the influx of refugees from war-torn Syria.

According to Jordan’s Ministry of Energy and Mineral Resources’ 2012 Annual Report, the maximum power demand in the country has doubled in the past decade and the nation is dependent on imported oil and natural gas for 97% of its energy needs, costing the country more than 20% of its GDP.

The 20-year PPA is one of 12 awarded from more than 60 submissions to Jordan’s first renewable energy direct proposal submission procedure. It is the only solar project to be located in the north of the country.

Paul Ezekiel, Chairman of AMP, commented, “AMP is honoured to assist Jordan as it continues to expand access to cost effective power to Jordan’s citizens and pursues its goal of securing 10% of its electricity from renewable resources by 2020. This is also a major achievement for AMP as we implement our strategy of building upon our strong North American presence to expand to select international markets.”

AMP was previously recognized for its role in one of the largest distributed solar PV projects in North America involving the installation of approximately 60MW of solar power systems on over 450 school rooftops, providing access to green energy for school students in Ontario. This historic project was described by the President of the Canadian Renewable Energy Alliance as, “the most important initiative of its kind on the planet.”

Dr Khalid Makhamreh, Chief Operating Officer of Evolution, stated, “We are proud of this tremendous achievement that will provide sustainable carbon free energy to the people of Jordan. This represents the long awaited opening of the Middle East market to this critical source of power for the future. We thank the Government of Jordan, the Ministry of Energy and Mineral Resources, the National Electric Power Company, our local Jordan team and our colleagues at AMP for their leadership and support.”

About AMP Solar Group Inc.

AMP Solar Group Inc. is a solar energy project developer, owner and operator. Our mission is to advance the transition away from fossil fuelled power generation by developing rooftop and ground mounted solar PV projects that offer attractive risk adjusted financial returns. Initially focused on the Ontario FiT market, AMP is expanding into select geographical markets globally with attractive regulatory environments. The AMP team offers extraordinary expertise in renewable energy project development, M&A, project finance, risk management, trading and construction management.

About Evolution Solar Inc.

Evolution Solar Inc. is a solar energy company based in Santa Clara, California with a branch office in Amman, Jordan. Since 2006, Evolution has been active in project development focused on the Middle East region. Evolution has a technical team with great experience in energy solution design and renewable energy project development. Our corporate mission is to make the world a better place to live in and at the same time preserve the environment for many generations to come. We accomplish our mission by making solar energy affordable for consumers through innovative solutions and tightly securing and managing the supply chain.


Copyright Business Wire 2014

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