The European Bank for Reconst0ruction and Development (EBRD) is providing a $100mn loan to Jordan for the construction and development of the al-Manakher power plant project, located 15km east of ‘Amman. The project will be also be funded by a $170mn loan from the US Overseas Private Investment Corporation (OPIC). The remaining $80mn will come from AES Levant Holding BV Jordan, a joint venture, owned 60% by AES Corporation of the US and 40% by Mitsui and Company of Japan.
The bank notes that the construction of the new 240mw “peaking” plant is urgently needed to provide extra capacity to prevent blackouts at times of peak demand and to secure short-term electricity supplies. The plant will operate on heavy fuel oil, diesel and natural gas and is expected to start up around mid-2014. It will be located next to the existing ‘Amman East plant owned by the same sponsors (MEES, 28 September). (CONTINUED - 288 WORDS)