European Bank for Reconstruction and Development finances largest private-to-private solar project in Jordan yet
August 2, 2019
The European Bank for Reconstruction and Development (EBRD) together with its partners is supporting a pioneering energy project in Jordan with a financial package of up to US$ 35 million. The investment will be the largest private-to-private solar project in Jordan yet.
The solar plants are located in the King Hussein Bin Talal Development Area, the Mafraq governorate and the Amman governorate. With support from the EBRD, the local renewable energy sector has increased capacity from around 20 MW to over 1,000 MW between 2012 and 2019, with an estimated 1.2 GW under construction or development.
The engagement is also the EBRD’s first project in Jordan within its southern and eastern Mediterranean Private Renewable Energy Framework (SPREF). SPREF also falls under the umbrella of the Regional Dialogue Platform on Renewable Energy and Energy Efficiency, created by the Union for the Mediterranean, with the aim of promoting the deployment of renewable energy and energy efficiency measures in energy generation, transmission, distribution and end use.
Since 2012, the EBRD has provided over €1.3 billion to 43 projects in Jordan, including more than €596 million in loans to 13 projects in the country’s power sector.