Masdar Jordan (IFC-39339)

Countries
  • Jordan
Geographic location where the impacts of the investment may be experienced.
Specific Location
Tilal Al-Rukban area in Muwaqqar district in the Amman Governorate.
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
BAYNOUNA SOLAR ENERGY COMPANY
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 70.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 280.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 23, 2017

Disclosed by Bank May 4, 2017

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
IFC is considering providing an A-loan of up to $70 million and mobilizing further funding via B-loans to support the construction, operation, and maintenance of a $280 million greenfield 200 megawatt (MW) solar photovoltaic (PV) power project near Amman in Jordan. The project is being developed by the Abu Dhabi Future Energy Company PJSC - Masdar(“Masdar” or the “Developer”), which is 100% owned by the Mubadala Development Company, an investment development company that is in turn 100 % owned by the Government of Abu Dhabi. The project will be an independent power plant and will supply 200MW to the National Electric Power Company (NEPCO) grid under a 20-year power purchase agreement. The project will consist of PV modules installed on a single axis tracker. Power will be sent to inverter stations (~39) connected to the grid via a substation which will step up the 33 kilovolts (kV) voltage into 132 kV. The output from the substation will be fed into the national grid through a new 132 kV NEPCO transmission line linked to an existing NEPCO substation 10 km from the project site. The project will require about 300 workers at peak construction and about 20-30 full time staff during operation. No worker camp is envisaged during construction, with workers being either sourced locally or accommodated in nearby hotels and guesthouses.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
ACCOUNTABILITY MECHANISM OF IFC/MIGA The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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How it works