Cash boost for Jordanian gas-fired plant

A combined cycle gas plant in Jordan has received a $290 million (£232m) boost. Two members of the World Bank, International Finance Corporation and Multilateral Investment Guarantee Agency, are backing […]

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By Priyanka Shrestha

A combined cycle gas plant in Jordan has received a $290 million (£232m) boost.

Two members of the World Bank, International Finance Corporation and Multilateral Investment Guarantee Agency, are backing the design, construction and operation of the 485MW plant.

It is expected to generate enough electricity for 620,000 individual residential customers annually and add about 150MW to the grid.

According to the IFC, the plant will generate power at about a third of the current average cost in Jordan.

The project, located in the Zarqa Industrial Zone, is being developed by ACWA Power, at a cost of around $485 million (£389m).

Rajit Nanda, ACWA Power’s Chief Investment Officer said: “This will be a climate-friendly addition to Jordan’s power supply, with the use of combined cycle gas turbine technology helping to significantly reduce greenhouse gas (GHG) emissions, particularly compared to the plant it replaces.”

Last month a solar project in Jordan secured $71 million (£58.15m) in loans.