Oryx Solar Project Jordan

Location:

Jordan

Project number:

46421

Business sector:

Power and energy

Notice type:

Private

Environmental category:

B

Target board date:

17 Sep 2014

Status:

Repaying

PSD disclosed:

12 Aug 2014

Translated version of this PSD: Arabic

Project Description

The EBRD is considering providing a senior secured loan of up to USD 13 million to finance the construction of a 10 MW solar photovoltaic plant located approximately 11 km to the west of Ma’an City in Jordan. The project is one of three solar projects being developed by Scatec Solar AS (Norway). It will be one of the first 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 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 incorporated in Jordan for the sole purpose of developing, constructing and operating the Project. The Borrower will be majority owned and controlled by Scatec Solar AS, an integrated solar energy company headquartered in Oslo, Norway. The remainder of the share capital will be owned by local Jordanian entities and individuals including Kingdom Electricity Company.

EBRD Finance

Up to USD 13 million senior secured loan, in parallel with a loan to be provided by the French development agency Promotion et Participation pour la Coopération Économique (Proparco).

Project Cost

Approximately USD 30 million.

Environmental Impact

The Project has been categorised “B” under the Bank’s Environmental and Social Policy (2008), requiring an Environmental and Social Due Diligence (ESDD) of the environmental and social issues associated with construction and operation of a medium sized solar power plant. The Project will result in environmental benefits through the promotion of renewable energy in Jordan. A field visit to the Project site has been undertaken as part of the ESDD to verify that the project is structured to comply with the Bank’s Performance Requirements (PRs), and that Scatec Solar AS has the institutional capacity to implement the relevant PRs. The ESDD did not identify any sensitive issues at this stage. Upon full completion of the ESDD, a Non-Technical Summary (NTS) will be developed and published to enable meaningful stakeholder engagement in compliance with PR 10. The issues which will require corrective measures will be addressed through the implementation of the Environmental and Social Action Plan (ESAP). The PSD will be updated upon the completion of the ESDD.

Technical Cooperation

None.

Company Contact

Scatec Solar AS
Sommerrogaten 13-15
0255 Oslo
Norway
Attention: Torgeir Birgersen

Tel: +47 (996) 38 741
Email: Torgeir.Birgersen@scatecsolar.com

 

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

Public Information Policy (PIP)

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.