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TunisiaEBRD supports solar power in Jordan
November 23, 2016
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The European Bank for Reconstruction and Development (EBRD) is continuing its support for renewable energy in Jordan by providing a US$ 54 million loan to the Local Company for Water and Solar Energy Projects PSC, for the construction of a Photovoltaic Independent Power Plant.
The 60.3 MW photovoltaic (PV) power plant will be located in the King Hussein Bin Talal development area of the Mafraq region in north Jordan. The project follows the highly successful first round of the solar programme by the Jordanian Ministry of Energy and Mineral Resources in which the EBRD financed 4 out of 12 solar PV projects in 2014 and the 86 MW Al Rajef wind farm in October 2016.
Jordan became an EBRD country of operations in 2012. To date, the EBRD has committed EUR 676 million through 30 projects in various sectors of the economy. This is the sixth large-scale renewable project financed by the EBRD in Jordan and brings the total capacity of projects financed by the Bank in the country to more than 400 MW.
The EBRD’s strategic plan for the period 2016-18 has three priorities: strengthening economic resilience, addressing global challenges and supporting regional integration. In the context of the EBRD’s focus on Green Economy Transition since late 2015, the Bank expects to more than triple the volume of renewable energy financed in Jordan in the near future.
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EBRD Jordan
EU Neighbourhood Info Centre webpage Jordan
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