The US Government?s Board of Directors of the Overseas Private Investment Corporation (OPIC) has approved funding worth US$270 million for construction of a 240MW electrical power plant in Jordan
The tri-fuel electrical plant will be built and operated by AES Levant Holdings BV Jordan Psc, an affiliate of the AES Corporation.
The plant will be located on an unused portion of the Amman East Power project site, a rural area 24 km outside of Amman.
Electricity generated by the plant will be purchased by the National Electric Power Company (NEPCO) of Jordan through a power-purchase agreement with AES Levant Holdings BV Jordan Psc.
The electricity produced will help provide Jordan with reliable energy during peak usage periods, such as evening hours and summer months.
?Ensuring that Jordan?s citizens have reliable electricity at all times, even during peak usage periods, is a critical service," said OPIC president and chief executive officer, Elizabeth Littlefield. "This project will help Jordan meet that need even as its electricity demand continues to grow.?
Jordan will be unable to meet its projected demand for electricity of 4,900 MW by 2020, which is 48 per cent higher than its current generation capacity. The government has made it a top priority to enhance the country?s electricity generation capacity.
The 2007 Amman East Power project was the first independent power provider project to be implemented under the Private Sector Power Generation Policy of Jordan, which aims to improve the quality and efficiency of its electric services in the country.
AES Levant Holdings BV Jordan Psc is owned under a shareholding structure between Mitsui and AES.
