FRV SOLAR HOLDINGS IX B.V./JORDAN
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
FRV Solar Holdings IX B.V./Jordan is a company established for the development, construction and operations of a 50MW solar photovoltaic (PV) power plant, located in the Mafraq Development Zone in Northern Jordan.
What is our funding objective?
The estimated project cost for the construction of the solar plant is USD 88.7 million. FMO is participating in a debt financing package mobilized by IFC. All output generated by the project will be sold to off-taker NEPCO under a 20-year Power Purchase Agreement (PPA). The project is part of the Government of Jordan’s Renewable Energy Program, which aims to increase renewable energy contribution to 10 percent of the country’s generation mix by 2020.
Why do we fund this investment?
Once operational, this power plant will generate approximately 130GWh annually, serving approximately 50,000 customers based on a per capita consumption of 2,580 kWh. The project serves to meet the growing demand for electricity in Jordan. By generating electricity from a renewable energy source this solar plant is expected to avoid the emission of approximately 90,000 tons of CO2 per annum. The project contributes to a diversification of Jordan’s fuel mix and provides for energy security by generating electricity from a domestic resource. It contributes to reducing the marginal cost of electricity in the country by generating electricity at a tariff close to half the long term cost of generation in Jordan.
More investments
| Date | Total FMO financing |
|---|---|
| 6/20/2016 | USD 0.65 MLN |
- Region
- Asia
- Country
- Jordan
- Sector
- Energy
- Effective date
- 6/20/2016
- Total FMO financing
- USD 11.95 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+