The European Bank for Reconstruction and Development (EBRD) is extending a $65 million loan to fund a 51-megawatts (MW) solar plant located in the Al-Safawi area of northern Jordan, the bank announced Monday.
According to the announcement, the loan will be provided to Al-Safawi for Green Energy PSC, a Jordanian company that is 70 percent owned by Fotowatio Renewable Ventures (FRV) and 30 percent owned by Arabia Trading & Consulting Company Ltd (ATC).
This solar plant is the fourth and final project to be developed under the second round of Jordan's solar program.
'Jordan became an EBRD country of operations in 2012. To date, the EBRD has committed $1 billion to 38 projects in Jordan, of which 10 are in the power and energy sector,' the bank emphasized.
In addition, the cumulative installed capacity of projects financed by the EBRD in Jordan is more than 1,000 MW, of which 300 MW are renewables.
By Gulsen Cagatay
Anadolu Agency
energy@aa.com.tr