Abu Dhabi – Mubasher: Masdar has appointed International Finance Corporation (IFC), a member of the World Bank Group, to oversee the funding of a 200-megawatt (MW) photovoltaic facility in Jordan, according to a statement.
The solar power plant is being developed by Masdar’s wholly owned subsidiary Baynouna Solar Energy Company (BSEC).
Mohamed Jameel Al Ramahi and Niall Hannigan, CEO and CFO of Masdar respectively, signed a finance mandate letter with Eric Becker, IFC Manager of Infrastructure for MENA.
The solar plant is expected to break ground later this year.
“Once connected to the national grid, it will supply the annual power needs of around 110,000 homes and displace an estimated 360,000 tonnes of carbon dioxide emissions each year,” the company added.
The project follows the opening of the 117MW Tafila wind farm in Jordan in December 2015. Masdar has a 31% stake in Tafila with InfraMed (50%) and EP Global Energy (19%).
The combined output of Tafila and the Baynouna solar project will account for nearly 18% of the 1.8 gigawatts (GW) of renewable energy Jordan plans to install by 2020.
