Mafraq FRV Solar Plant

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The Project is located within the King Hussein Bin Talal Development Area, near to Mafraq and some 50 km from the capital Amman in northern Jordan. The project will be developed through FRV SOLAR HOLDINGS IX B.V ( "Project company"). Sponsor is Amsterdam-headquartered Fotowatio Renewable Venture (FRV), part of Saudi Arabian group Abdul Latif Jameel Energy. The company won the right to develop the build, own, operate project in Jordan’s second round of solar tenders. The generated electricity will be sold to the Jordanian National Electric Power Company (NEPCO) under a 20-year Power Purchase Agreement. Total estimated cost of the project is $129.3 million and is funded by 75 per cent senior debt, 5 per cent sub-debt and 20 per cent equity. IFC has arranged a $76 million financing package, which includes $21 million from the IFC-Canada Climate Change Program. Furthermore, IFC also syndicated funds from the Dutch development bank FMO amounting to $12 million , $8 million from Europe Arab Bank (EAB), and $5 million from the Finnish development financier FinnFund. The IFC-Canada Climate Change Program also contributed $2.4 million in a C-loan. Sponsor is "Abdul Latif Jameel Energy" https://ijglobal.com/data/transaction/33332/jordan-one-solar-pv-plant-50mw