Chinese coal power plant operator Yudean has taken 45% of Jordan’s Attarat Power (Apco) JV, which is developing a 550MW oil shale-fired power plant in the Attarat umm Ghudrun region 110km southeast of Amman.
It is unclear if Yudean has paid for the stake in the $2.1bn project or whether this will impact development. Apco’s lead firm Eesti Energia of Estonia – the only member of the JV with shale expertise – describes Yudean as a “strategic investor.” Eesti’s stake falls from 65% to just 10% as part of the shake-up which also sees Malaysia’s YTL Power raise its share from 30% to 45%. Jordan’s Near East Investment, which formerly had 5%, exits the project. (CONTINUED - 483 WORDS)