The first FMO financed photovoltaic plants under the round one auction in Jordan is completed and successfully connected to the national power grid. The plant is located near Aqaba in the south of Jordan. The Shamsuna solar farm is developed by the independent private sector company Shamsuna Power Company.
The 10MW solar power plant can produce 19 gigawatt hours of clean electricity annually. It helps Jordan to meet its growing demand for energy in a reliable, affordable and eco-friendly way. It also helps to diversify Jordan’s energy system that is primarily depending on fossil-fueled thermal power.
IFC acts as a lead arranger for the development of the seven solar projects in Jordan with a total capacity of 102 MW. FMO participates in the debt-financing 5 schemes. The project represents the largest private sector-led solar initiative in the Middle East and North Africa (MENA) region.
