EBRD considers financing ACWA Power’s solar PV in Jordan

The EBRD is considering providing a senior secured loan of up to US$26.1 million to finance the construction of a 50 MW solar photovoltaic plant located within the King Hussein Bin Talal Development Area near the city of Al Mafraq in Mafraq Governorate, 80 km north of Amman in Jordan. 

The total project investment is estimated at US$70.6 million. The ERBD would contribute with up to US$26.1 million senior secured loan, alongside parallel or syndicated facilities of the same amount.

In March we reported that ACWA Power had taken over Sunrise Solar Energy PSC, the project company that plans to develop the plant.

The project will be one of the first utility-scale solar plants of this size in Jordan and will support the country in increasing its renewable energy capacity and reducing its reliance on costly hydrocarbon imports.