EBRD and PROPARCO provide US$71 million in loans for FRV Jordan project

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
This is FRV’s first PV project in Jordan. Credit: EBRD

Two major financing institutions are providing parallel loans totalling US$71 million to Jordan-based firm Al Ambaratouria LL Taka Al Shamsia, which is owned by Fotowatio Renewable Ventures (FRV), to construct a 67MW solar project.

The European Bank for Reconstruction and Development (EBRD) and Société de Promotion et de Participation pour la Coopération Economique (PROPARCO) are both providing the loans for the FRV Empire solar power project, which is one of four projects being developed under the second round of Jordan’s solar programme.

It is FRV’s first PV project in Jordan.

Nandita Parshad, EBRD director for power and energy, said: “This project is a major milestone for the EBRD. It brings to more than 500MW the total installed capacity of projects supported by the Bank in Jordan. We are pleased to continue our successful cooperation with PROPARCO and are delighted to celebrate the start of a new relationship with FRV on the occasion of its 10th anniversary.”

FRV has also launched a scholarship initiative to support the education of a talented Jordanian to study for a four-year degree.

The latest edition of PV Tech Power looks in detail at the biggest operational solar project the Middle East – First Solar's 52.5MW(ac) Shams Ma'an plant in Jordan.

Read Next

May 3, 2021
Scatec’s posted an improved first-quarter financial performance after closing its acquisition of hydropower developer SN Power in January and completing solar projects in South Africa and Ukraine.
April 22, 2021
Danish solar company Better Energy is expecting to improve its financial performance this year thanks in part to its transition from a project developer to an independent power producer (IPP).
April 21, 2021
Independent power producer Opdenergy has mandated BBVA as the underwriting entity for financing the development and construction of its 725MWp backlog of solar projects in Spain.
April 20, 2021
Amazon has announced plans for nine new utility-scale solar and wind projects in the US, Canada, Spain, Sweden and the UK, putting it on track to powering all its activities with renewables by 2025.
April 13, 2021
As energy markets continue to adapt and grow, energy arbitrage could overtake frequency markets as a key revenue stream for many co-located solar plus storage projects.
April 12, 2021
Spanish energy company Acciona has secured shareholder approval for an initial public offering (IPO) of its renewables division, providing a boost for the firm’s plans to reach 6GW of installed PV by 2025.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
May 11, 2021
Upcoming Webinars
May 26, 2021
Session 1 - 7:00 AM (BST) | Session 2 - 5:00 PM (BST)
Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021