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20 April 2017

Mafraq I solar project reaches financial close, Jordan

The US$76 million Mafraq I solar plant in Jordan, on which Mott MacDonald acted as technical advisor to the International Finance Corporation, has successfully achieved financial close. The project is one of four schemes awarded in the second round of the country’s solar independent power producer initiative, which aims to develop 1,600MW of renewable energy by 2020.

The 50MW solar photovoltaic plant is expected to reduce Jordan’s carbon footprint by displacing over 80,000 tonnes of CO2 per year, the equivalent of removing 17,000 cars from the country’s roads. As well as providing stable renewable power capacity to the grid system, the project will also open new employment opportunities, creating 250 jobs at the peak of construction.

Mott MacDonald provided technical, environmental and social due diligence during the scheme’s financing stage, which played a key role in it reaching financial close. The consultancy will now monitor construction and operations in an ongoing role.

Viktor Lempesis, Mott MacDonald’s project director, said: “This project is a great achievement for Jordan, boosting renewable energy investments in the oil-importing country. Our assessments were based on our regional and international experience in similar assignments, including other solar projects in Jordan. We were able to highlight risks that could have affected the project’s progress and offered advice on methods for mitigating these.”

Mafraq I is expected to be connected to the grid in the second quarter of 2018.

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