Masdar picks IFC to oversee funding of Jordan’s largest PV project

Facebook
Twitter
LinkedIn
Reddit
Email
The facility is being developed by Masdar subsidiary, Baynouna Solar Energy Company (BSEC). Credit: Masdar

Abu Dhabi-based renewables firm Masdar has selected the International Finance Corporation (IFC) to oversee funding of Jordan’s largest solar plant, standing at 200MW.

This follows the signing of a power purchase agreement (PPA) in October with the state utility National Electric Power Company (NEPCO).

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The facility is being developed by Masdar subsidiary, Baynouna Solar Energy Company (BSEC), and construction is expected to start later this year. The plant will be built 10km outside the Jordan capital of Amman. It will supply electricity to the equivalent of around 110,000 homes each year.

Niall Hannigan, CEO and CFO of Masdar, said: “We are delighted to be working with IFC in the realisation of Jordan’s largest solar plant, further consolidating Masdar’s significant presence in the country. Our partnership with IFC will ensure that this landmark project will be developed according to the highest standards of financial best practice, while illustrating the strength of investor confidence in renewable energy.”

Eric Becker, IFC manager of infrastructure for the Middle East and North Africa, said: “The Middle East and North Africa continues to face serious power shortages, and there is now even greater pressure on infrastructure services. We have been working with Masdar, a key partner, since 2013 and welcome this opportunity to further support the development of renewable energy generation capacity across the region.”

Since 2006, Masdar has invested US$2.7 billion in renewable energy projects.

Jordan was a standout emerging market of 2016.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

July 18, 2025
The average price of solar panels used in distributed generation projects in the US reached US$0.27/W by the first half of the year.
July 17, 2025
Indian solar manufacturers are among the targets of a new petition filed by US producers alleging illegal trade practices by overseas firms.
Premium
July 17, 2025
Implementing greater policy clarity pertaining to the EPBD will be essential if Europe is to realise its distributed rooftop solar targets.
July 17, 2025
Corporate funding in the solar sector fell by 39% in the first half of 2025 compared with the same period last year.
July 16, 2025
Planning uncertainty and policy instability regarding renewables in Queensland have seen it slip in investment attractiveness, with New South Wales now leading Australia.
July 14, 2025
Elements Green has secured €80 million (US$93.5 million) in financing from Danish investment firm Copenhagen Infrastructure Partners (CIP).

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK