The European Bank for Reconstruction and Development (EBRD) supports Jordan with a $65 million loan to fund a 51 MW solar plant located in the Al-Safawi area of northern Jordan. The loan will be provided to Al-Safawi for Green Energy PSC, a Jordanian company 70 percent owned by Fotowatio Renewable Ventures (FRV) and 30 percent owned by Arabia Trading & Consulting Company Ltd (ATC).
This solar plant is the fourth and final project to be developed under the second round of Jordan's solar programme. According to the EBRD, »the successful financing of that round firmly establishes Jordan as a regional leader in the successful deployment of renewable energy.« To date, the EBRD has committed $1 billion to 38 projects in Jordan, of which 10 are in the power and energy sector. This is the eighth utility-scale renewable project financed by the EBRD in Jordan and brings the cumulative installed capacity of the country’s projects financed by the EBRD to more than 1,000 MW, of which 300 MW are renewables.
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