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Proparco is supporting the construction of a gas-fired combined-cycle power plant in southern Jordan. With this project, Qatrana Electric Power Company is contributing to securing the country’s electricity supply and diversifying its energy mix.
Client presentation
Qatrana Electric Power Company (QEPC) is a private Jordanian company and a subsidiary of the Korean power generation company Korea Electric Power and the Saudi industrial conglomerate Xenel. The Government of Jordan has made the land for the site of its infrastructure available under a 25-year sublease and has signed a take-or-pay power purchasing agreement for the same duration with the national electricity company NEPCO.
Project description
Proparco’s loan will finance the construction of a gas-fired combined-cycle power plant with a capacity of 373 MW in Al Qatrana, to the south of Amman. The site is located at the junction of the pipeline supplying gas from Egypt and the Jordanian transmission grid. The total project cost stands at some USD 465m.
Project impact
This power plant project will contribute to increasing Jordan’s power generation capacity and to securing the basic electricity supply. It will provide a more sustainable alternative to coal-fired power plants or fuel. The new power plant will also produce cheap electricity, create some 600 jobs during the construction phase and 75 permanent jobs, and generate tax revenues for the Government of Jordan.
Date of signature of the project
Financing tool
29 840 632 Euros
Amount of funding
Loan of USD 48,8 M
Financing details
Qatrana Electric Power Company