Jordan power scheme receives US backing
OPIC approves $270m financing for 240MW scheme
The United States’ Overseas Private Investment Corporation (OPIC) has approved a US $270 million financing deal for the construction of a 240MW power plant in Jordan. AES Corporation affiliate AES Levant Holdings BV Jordan Psc is now set to construct and operate a tri-fuel plant on a unused part of the Amman East Power project site, located 15 miles outside of Amman.
AES Levant is owned under a shareholding structure between Mitsui and AES. Electricity generated at the plant will be purchased by Jordan’s National Electric Power Company (NEPCO) through a power-purchase agreement, with the output helping to provide reliable supplies during peak usage periods.
“Ensuring that Jordan’s citizens have reliable electricity at all times, even during peak usage periods, is a critical service. This project will help Jordan meet that need even as its electricity demand continues to grow. We are please to support these services for the people of Jordan and to partner again with AES to make this project a reality,” said OPIC President and CEO Elizabeth Littlefield.
The new plant – called a “peaker plant” will provide electricity during peaks of demand. Jordan is currently struggling to meet forecast demand on its grid, which is expected to be 4,900 MW by 2020 – 48% higher than current power capacity.