240 MW power plant to be officially inaugurated Wednesday

AMMAN – The 240 megawatt (MW) Al Manakher Power Plant is scheduled to be officially inaugurated on Wednesday, according to the European Bank for Reconstruction and Development (EBRD). 

EBRD, a major lender for the construction of the $350-milllion power scheme, which began operations in July, said senior government officials and executives from the London-based bank as well as from other investing companies will attend the inauguration. 

In 2012, EBRD offered a $100-million loan for the construction and development of Al Manakher Power Plant, some 15km east of Amman. 

The power plant was constructed by US firm AES and its Japanese partner Mitsui, and was co-funded by a $170 million loan from the US Overseas Private Investment Corporation (OPIC). 

It is located next to the Amman East plant owned by the same sponsors and also partly financed by OPIC. 

EBRD started investing in Jordan in 2012 by providing financing to help support the trading operations of Jordanian companies.

Jordan became a member of the bank in 2012 and to date EBRD has committed 206 million euros across 12 projects in the country in various sectors.

In October last year, the bank opened its permanent office in Amman, a step described by EBRD officials as a long-term commitment to supporting economic development in the Kingdom. 

The office in Jordan was the second permanent EBRD representation in the Southern and Eastern Mediterranean region after Tunisia. 

Earlier this month, the EBRD’s board of directors approved the first country strategy for Jordan, which focuses on three key priorities identified in cooperation with the government: energy, the private sector and infrastructure.

Also this month, the bank approved a $25 million loan for the construction and development of a 20MW photovoltaic power plant in Maan, some 220km south of Amman. The project will be co-financed through a $25 million loan from OPIC.