ABU DHABI: Abu Dhabi’s Future Energy Company (Masdar) has completed a $188 million financing package for the largest solar power plant in Jordan, it said on Wednesday.
The Baynouna Solar Energy Company (BSEC) is a Masdar-led project to develop Jordan’s largest solar power plant on behalf of the state utility National Electric Power Company.
The Finnish investment company, Taaleri Group, took a 30 per cent stake in BSEC, it said last week.
Funding for the 200MW Baynouna solar project was arranged by the International Finance Corporation (IFC).
The financing package includes a $54m loan from the IFC and $134m from other senior lenders, including a parallel loan from Japan International Cooperation Agency (JICA), IFC said in a statement.
Other lenders included Dutch Development bank FMO and Europe Arab Bank as well as the Opec Fund for International Development (OFID) and German development bank DEG.
Published in Dawn, January 18th, 2018
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