Risha Solar PV Project (EBRD-49025)

  • Jordan
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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."
Voting Date
Sep 20, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
International Company for Water and Power Projects
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 27.60 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)
$ 69.00 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 @ EBRD website

Updated in EWS Sep 4, 2017

Disclosed by Bank Aug 14, 2017

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

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.
A senior secured limited recourse loan of up to USD 27.6 million to finance the development and construction of an up to 50 MWac solar photovoltaic plant located in the Risha region, 300 km north east of Amman, Jordan. The project will sustain the momentum of the Jordanian renewable energy sector, demonstrating how private sector capital and expertise can be mobilized to yield competitively low tariffs. The project directly compliments Jordan's strategy of procuring cost-effective, indigenous energy supplies to mitigate its energy crisis and lessen energy security concerns. As part of the government's ambitious program to generate 10% of Jordan's electricity demand from renewables by 2020, the project will play a key role in contributing to this target and to reducing the import dependence and lowering the carbon intensity of the Jordanian power sector. In addition, by providing power at a tariff of USD 5.9 cents (which is below the tariff offered by any other projects in the context of Rounds I and II), the project helps replace costly energy imports which historically have been linked to oil and gas prices thereby bringing benefit to the Jordanian economy as well. By adding 50 MW of energy generation from renewables in Jordan, the project will assist transition to a low-carbon economy in Jordan which is almost entirely reliant on thermal power generation.
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.
Claire Guesdon Cguesdon@acwapower.com +971 4 50 90 563 http://acwapower.com/ ACWA Power International 22nd Floor, Nassima Tower Sheikh Zayed Road P.O. Box 30582, Dubai, United Arab Emirates ACCOUNTABILITY MECHANISM OF 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.

How it works

How it works