EBRD Mulls $281mn Loan To Jordan

The European Bank for Reconstruction & Development (EBRD) is considering lending $281mn to Jordan’s state electricity utility Nepco. EBRD says Nepco plans to install a smart grid system and two new substations to better integrate renewables capacity and to refinance existing debt to lengthen the tenor of loans. EBRD is a regular backer of Jordan’s renewables program, most recently providing $22mn for the $69mn 61MW Risha solar project. EBRD says it has committed to provide over $1bn to fund 40 projects in Jordan, including nine renewables plants ( MEES, 5 January ). EBRD’s board is scheduled to decide on the funding in mid-October. (CONTINUED - 101 WORDS)