AL HUSAINIYAH POWER GENERATION COMP (FMO-54021)

Countries
  • Jordan
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
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
Al Husainiyah Power Generation Company
The holder of the loan, grant, or other investment.
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)
$ 28.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 28.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Feb 13, 2019

Disclosed by Bank Aug 21, 2018


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Project Description

FMO's funding will be used to develop, construct and operate a 50MW PV solar project in Jordan. Power offtake will be under a 20-year power purchase agreement by the National Electricity Power Company under a full Ministry of Finance Government Guarantee. The Project is being developed under the same template as the other Round 1 & 2 PV solar projects FMO has financed in the country.

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors

Al Husainiyah Power Generation Company is our client, a company registered under the laws of Jordan. Sponsors are AMEA Power Limited (70%) and Philadelphia Solar Company LLC (30%). AMEA is part of Al Nowais Investments, a strong diversified private holding conglomerate headquartered in Abu Dhabi and owned by the Al-Nowais family. Philadelphia Solar Company LLC is a specialized solar company based in Jordan.

Contact Information

*Contact information not provided at the time of disclosure*

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism