Al Rajef Wind Farm (EBRD-48100)

Countries
  • Jordan
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
A
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.
Voting Date
Sep 7, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Sectors
  • Energy
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)
$ 68.30 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)
$ 184.60 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 @ EBRD website

Updated in EWS Sep 22, 2017

Disclosed by Bank May 17, 2016


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Project Description
A senior secured loan of up to USD 68 million to Green Watts Renewable Energy LLC to finance the construction of an 82 MW wind farm (the Project) in Jordan near the village of Al Rajef in the Ma'an Governorate, approximately 200 km south of Amman. The project will sell all its power under a long-term power purchase agreement to the Jordanian National Electricity Power Company. The Project will support Jordan in increasing its electricity generation capacity from clean, renewable sources and reducing reliance on hydrocarbon imports.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information
Company Contact Information Markus von Haniel mvonhaniel@alcazarenergy.com +971 (0) 4 352 8167 +971 (0) 4 352 8167 http://alcazarenergy.com/ Alcazar Energy Partners Suite 802-803, South tower Emirates Financial towers, DIFC P.O. Box 506672 Dubai, United Arab Emirates Green Watts Renewable Energy LLC PO Box 1999 Amman 11941 The Hashemite Kingdom of Jordan Accountability Mechanism of the EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.