Masdar Jordan (IFC-39339)

Countries
  • Jordan
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
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.
Borrower
BAYNOUNA SOLAR ENERGY COMPANY
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 70.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 23, 2017

Disclosed by Bank May 4, 2017


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Project 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
  • International Finance Corporation (IFC)
Contact Information
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