Translated version of this PSD: Arabic
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.
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 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.
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).
Approximately USD 30 million.
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.
Scatec Solar AS
Attention: Torgeir Birgersen
Tel: +47 (996) 38 741
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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