Investment to boost Jordan's power sector
Acquisition of Enara Energy will see $10m funding for Kingdom's power
Outside investment into Jordan’s power infrastructure has received a boost as the International Finance Corporation and the Saudi Arabian-based International Company for Water and Power Projects (ACWA) have announced funding.
Both companies are to aid Jordan’s largest electricity producer in an attempt to improve power delivery in the country, the Daily News Egypt has reported. IFC will invest approximately $10m to support ACWA Power’s acquisition of Enara Energy Investments, which in turn owns 51 per cent of Jordan’s Central Electricity Generating Company. CEGCO is currently the largest power generator in Jordan, responsible for seven power plants and a generating capacity of more than 1500 megawatts.