EBRD studies loan for 50-MW solar project in Jordan
May 19 – The European Bank for Reconstruction and Development (EBRD) is looking at providing a loan of up to USD 26 million (EUR 23m) to fund the construction of a 50-MW solar park in Jordan by Saudi Arabian firm ACWA Power.
The project, worth USD 70 million, is located in the King Hussein Bin Talal development area near the city Al Mafraq.
The potential borrower is Sunrise Solar Energy PSC, a project company to be ultimately owned by ACWA Power. The Saudi Arabian firm acquired the scheme — a winner in the second round of Jordan’s solar procurement programme — from a unit of Greek developer SunRise Photovoltaic Systems earlier this year.
EBRD says on its website that the project is an important step in Jordan’s programme to produce 10% of its electricity demand from renewable sources by 2020. It will be one of the first utility-scale solar plants of this size in the country.
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