Saudi private energy developer Acwa Power has announced financial close for the development of a 61.3MW solar PV plant at Risha in Jordan’s Mafraq governorate 300km northeast of Amman and in a military zone 4km from the Iraqi border. The location is already site of a 150MW gas-fired plant operated by state utility Cegco in which Acwa has a 25% stake.
Acwa says the financing comprises senior loans of $22mn from London-based European Bank for Reconstruction and Development (EBRD) and $16mn each from Germany’s DEG and Amman-headquartered Arab Bank. EBRD says the total project cost for Risha solar is $69mn. (CONTINUED - 829 WORDS)