Jordan has secured a $76mn finance package from the World Bank’s IFC unit that will enable Spain’s Fotowatio to build a 50MW solar photovoltaic (PV) power plant in the city of Mafraq, 80km northeast of Amman. The plant is scheduled for start-up in 2018. IFC says the plant will supply electricity at US¢6.9/kWh, which is “a price far below Jordan’s average cost of electricity and amongst the lowest for solar energy worldwide.” The UAE leads the field in low cost solar, last week receiving a bid for US¢2.42/kWh electricity from a 350MW project (MEES, 23 September).

The package is the latest in a series of IFC deals to help Jordan boost its power generating capacity from renewable resources. IFC supported Jordan’s first renewables project, the 117MW Tafila wind farm 140km south of Amman, which was connected to the grid in October 2015. (CONTINUED - 508 WORDS)