Jordan

EBRD, DEG and GEF Promote Private-to-Private Solar Energy in Jordan

Feed Solar

EBRD, DEG and GEF lend Yellow Door Energy a total of US$ 31.2 million senior secured loans for the development, construction and operation of eight solar plants in Jordan The portfolio with a total capacity of 48.3MW will sell electricity solely to private off-takers It will be supported by donor funding from Spain and the EU. The European Bank for Reconstruction and Development and DEG are providing Yellow Door Energy, a leading sustainable energy provider for businesses, with a US$ 10.6 million loan in local currency for the development, construction and operation of a portfolio of eight solar photovoltaic plants in Jordan.

The EBRD local currency financing is complemented by a loan mobilised by the Bank of up to US$ 5 million provided by the Global Environment Facility, a parallel US$ 15.6 million senior loan in local currency from the DEG, the German development finance institution, and an equity contribution from Yellow Door Energy.

In total, 48.3 MWp of renewable energy capacity will be added to Jordan’s power system, generating over 81 GWh of renewable electricity per year during the lifetime of the project.

IMAGE SOURCE: GOOGLE