Mubasher: The European Bank for Reconstruction and Development (EBRD) has extended the $22 million loan for the construction and operation of a 50 megawatts (MW) photovoltaic (PV) plant in the Risha region in Jordan.
The region is 300 kilometer north-east of the Jordanian capital Amman, and the project is part pf the kingdom’s solar power programme.
The loan will be provided to Risha for Solar Power Projects, a Jordanian company fully owned by the International Company for Water and Power Projects (ACWA Power), according to a statement issued by EBRD on Tuesday.
The loan is provided alongside parallel loans from the German Investment Corporation DEG and the Arab Bank, of $16 million each.
The new plant will be located next to an existing 150 MW gas-fired power plant, owned and operated by Central Electricity Generating Company (CEGCO), the largest generator of electricity in Jordan and a subsidiary of ACWA Power
The gas-fired plant was constructed in 1984 and is nearing the end of its lifetime.
