EBRD finances more than 1,000 MW of generating capacity in Jordan

September 18, 2017
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Continuing to support Jordan’s solar programme, the European Bank for Reconstruction and Development (EBRD) is extending a $65 million loan to fund a 51 MW solar plant located in the Al-Safawi area of northern Jordan.

The loan will be provided to Al-Safawi for Green Energy PSC, a Jordanian company 70 per cent owned by Fotowatio Renewable Ventures (FRV) and 30 per cent owned by Arabia Trading & Consulting Company Ltd (ATC). The loan is split equally between an A loan provided on the EBRD’s own account and a B loan funded by the Dutch development Bank (FMO).

Harry Boyd-Carpenter, EBRD Director for Power and Energy, said: “This project is the third financed by the EBRD under Jordan’s second round of its solar energy programme, bringing the total installed capacity of power projects supported by the EBRD in Jordan to more than 1,000 MW. We are pleased to continue our successful cooperation with FMO and FRV, and delighted to support FRV and ATC in this fruitful collaboration.”


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EBRD Jordan

Countries covered:

  • Jordan