Maan Development Company signs energy deals with Chinese firms

AMMAN — Maan Development Company (MDC) has signed two agreements with two Chinese firms in the field of alternative and renewable energy with the aim of exchanging information and conducting studies on investment opportunities.

The first agreement was signed with China’s CSIC company specialised in the field of wind energy  to exchange information and will be effective by the beginning of 2016, the Jordan News Agency, Petra, quoted MDC CEO Hussein Kreishan.

Under the agreement, the Chongqing-based company will conduct a study on available investment opportunities in the field of generating electricity in the Maan Development Area and study the market to provide offers to carry out wind power projects.

The second agreement was signed with Yingli Solar, one of the world’s largest solar panel manufacturers. 

It provides for information exchange, according to Kreishan, who said that the company is interested in building a solar power project for electricity generation in addition to establishing a plant for manufacturing solar panels. 

Kreishan said MDC was able to attract nine international companies from Japan, Qatar and Italy, in addition to several European and US companies to build solar power schemes, adding the firms were leased 5,000 dunums to produce 160 megwatts of power at an investment value of $400 million

“We aim to make Maan a regional centre for power generation from solar,” he said, indicating the nine international firms have already started to set up their plants and will start operations mid next year. 

During His Majesty King Abdullah’s latest work visit to China, the two sides signed several memoranda of understanding and agreements valued at more than $7 billion in the fields of oil shale, renewable energy, electricity generation, railway and training.

The agreements were signed on the sidelines of the 2015 China-Arab States Expo in Yinchuan, China, which was held September 10-14.