IsDB to help finance 14-MW solar project in Jordan
Dec 30, 2016 08:41 CET
December 30 – A 14-MW solar project at Jordan’s King Hussein Cancer Center (KHCC) will receive USD 5 million (EUR 4.8m) in financing from the Islamic Development Bank (IsDB), the latter said earlier this week.
The loan has a 20-year term, including a five-year grace period. It supports the construction of the solar photovoltaic (PV) park, which, once operational, is expected to save the KHCC over USD 7 million in annual electricity costs.
The project comes to support the cancer centre at a time when it is expanding its activities, which is to bring additional expenses. IsDB VP for sector operations, Mansur Muhtar, noted that the solar loan comes to support both the energy and health sectors in Jordan.
The country aims to reach 1,600 MW of renewables capacity by the end of the decade.
(USD 1 = EUR 0.95)
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