Jordan IPP 7 CCGT (IFC-52692)

Regions
  • Middle East and North Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Jordan
Geographic location where the impacts of the investment may be experienced.
Specific Location
Al Khanasiri, Mafraq District
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
A
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
Nov 17, 2026
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.
Borrower
Sharikat Al Khanasri Lil Taqa PSC (Etihad Development Company)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 200.00 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.
Loan Amount (USD)
$ 200.00 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)
$ 900.00 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
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 5, 2026

Disclosed by Bank Sep 17, 2026

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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.

As stated by the IFC, the project consists of the development, construction, operation and maintenance of a 700MW greenfield combined cycle gas turbine power plant in Mafraq, Jordan. The project will generate electricity under a 25-year power purchase agreement signed with the National Electric Power Company of Jordan.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

As stated on the project disclosure page, the proposed total project cost is currently estimated at approximately US$900 million to be financed with a combination of debt and equity.

IFC's Investment involves an IFC A-loan of up to US$200 million, supplemented by mobilized debt financing, and risk management instruments in the form of interest rate swaps to cover part of the overall debt financing.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the IFC, the project will be implemented through a special-purpose vehicle, Sharikat Al Khanasri Lil Taqa PSC, and is being developed by Etihad Development Company (EDC), the infrastructure development platform of Etihad Water and Electricity (EtihadWE). EtihadWE is backed by the Emirates Investment Authority (EIA), the UAE federal sovereign investment fund. EDC is expected to be the controlling shareholder and lead sponsor of the project company, alongside other partners currently being selected by EDC.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
National Electric Power Company (NEPCO) Buyer Energy contracts with Etihad Water and Electricity (EtihadWE) Client Infrastructure

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.

Local Access of Project Documentation:

Faris Al-Qatarneh
Email: falqatarneh@aol.com 
Address: 4 Tunis Street, Amman, Jordan

Client - Etihad Development Company:

Mohamed Elbanna - Head of Business Development
Phone: +971503471304
Email: Mohamed.Elbanna@etihadwe.ae
Address: 7 HQ - Street 54 - 54th St - near Al Mawakeb School - Al Garhoud – Dubai 

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

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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