News Column

Greenland Solar Project Jordan

August 16, 2014



Business sector:Power and energy Public/Private: Private Environmental category: B Target Board date: 17 Sept 2014 Status: Passed concept review, Pending final review PSD disclosed: 12 Aug 2014 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 10 km to the south east of Ma an City in Jordan. The project is being developed by European Jordanian Renewable Energy Projects LLC (Jordan) and 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 owned by Greenland Alternative Energy and European Jordanian Renewable Energy Projects LLC, both Jordanian renewable energy developers, and by Scatec Solar AS, an integrated solar energy company headquartered in Oslo, Norway. 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 the sponsors have 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 co

Project completion date : 2015-12-31 12:00:00

Major organization : EUROPEAN JORDANIAN RENEWABLE ENERGY

Address : P.O.Box 484 Amman, 11941



Country :Jordan

Email : tarek.alamad@ejre.com.jo

Url : www.ejre.com.jo/

Financier : European Bank for Reconstruction and Development (EBRD),

Financier address : Financier: European Bank for Reconstruction and Development (EBRD) One Exchange Square London EC2A 2JN United Kingdom Website : http://www.ebrd.com/


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Source: TendersInfo (India)


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