Ma'an Solar Power Project

Location:

Jordan

Project number:

44973

Business sector:

Power and energy

Notice type:

Private

Environmental category:

B

Target board date:

03 Sep 2014

Status:

Repaying

PSD disclosed:

02 Jun 2014

Translated version of this PSD: Arabic

Project Description

The EBRD is considering providing a senior secured loan of up to USD 25 million to finance the construction of a 24 MW solar photovoltaic plant located approximately 13 km to the south east of Ma’an City in Jordan. The Project will be one of the utility-scale solar plants in Jordan and will support the country in increasing its renewable energy capacity and reducing its reliance on costly hydrocarbon imports.

Transition Impact

The Project will assist Jordan in diversifying its power sector which is heavily focused on thermal power generation. The Project will increase the generation of energy through indigenous renewable sources.

The Project will also be one of the first privately-owned renewable energy projects in Jordan. As such, it has the potential to attract interest from new investors into the Jordanian renewables sector and to set a template for further private sector participation in this and other sectors.

The Client

The Borrower will be a special purpose vehicle to be incorporated in Jordan for the sole purpose of developing, constructing and operating the Project. The Borrower will be ultimately owned by SunEdison Inc, one of the world's leading solar developers with more than 200 MW of solar assets owned, 1.9 GW under management, 1.3 GW installed and 540 MW under construction.

EBRD Finance

Up to USD 25 million senior secured loan, in parallel with the Overseas Private Investment Corporation.

Project Cost

USD 66 million.

Environmental Impact

Category B. Environmental and Social issue associated with the construction of a medium sized  solar power project located within a designated development  away from local communities and sensitive areas  can be readily assessed and mitigated based on an Environmental and Social Due Diligence (ESDD). 
 
An independent consultant undertook an Environmental and Social Due Diligence (ESDD) of the Project under the guidance of the Bank and US OPIC.  This ESDD has confirmed that the Project is not located near to sensitive receptors and is being developed in line with best international practice,  structured to comply with the Bank’s Environmental and Social Policy and the relevant  Performance Requirements. The Project has been subject to a Jordanian Environmental Impact Assessment (EIA) and valid permits have been issued by the Competent Authorities.
 
The ESDD has confirmed that the overall environmental and social impacts are low and the EIA has included a cumulative assessment of the entire solar park, taking into account investments being made by other developers.
 
The Project Sponsor has committed to comply with the Bank’s Performance Requirements  and development of a common best practice approach among the solar developers at the site. This includes, among others, the development of  a CSR policy and providing financing for implementing local community development projects.
 
A Stakeholder Engagement Plan (SEP) and a Non Technical Summary (NTS) of the  Project is available: http://www.sunedisonjordan.com/NST-SEP/
 
The Bank will monitor the implementation of the Project

 

Technical Cooperation

None.

Company Contact

SunEdison Spain Construction, S.L.U.
C/Alcalá 44 Planta 3
28014 Madrid
Spain
Attention: Jesus de Pablo

Tel.: +34 915 242 670/Fax: +34 911 814 123

 

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.