Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Jordan
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Proposed
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Energy
Investment Amount (USD): $ 28.90 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2017-09-12
Disclosure Date: 2017-07-20
AL SAFAWI FOR GREEN ENERGY PRIVATE
FMO-51762

Project Description
FMO's intended client is Alsafawi for Green Energy PSC, a special purpose vehicle incorporated in Jordan to develop, construct and maintain a solar power plant in the Mafraq region of northern Jordan. FMO intends to provide a USD 35.0mln senior loan to Alsafawi for Green Energy PSC, financed by FMO-A (USD 30mln) and IDF (USD 5mln). The objective of FMO's financing is to fund the development and construction of a 66.6MWp (51.0MWac) solar PV plant in northern Jordan. Once operational, this power plant will generate approximately 143GWh annually, serving approximately 60,403 customers based on a per capita consumption of 2,357 kWh. The project serves to meet the growing demand for electricity in Jordan. By generating electricity from a renewable energy source, this solar plant is expected to avoid the emission of approximately 91.5 kilotons of CO2eq per annum. The project contributes to a diversification of Jordan's fuel mix and provides for energy security by generating electricity from a domestic resource. It contributes to reducing the marginal cost of electricity in the country by generating electricity at a tariff close to half the long-term cost of generation in Jordan.
Investment Description
Bank Documents