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FinancialNews


  • 05-12-18

    Jordan inks USD265m loan pact with EBRD on renewables

    (MENAFN) The Jordanian National Electric Power Company (NEPCO) is to receive USD265 million in loans from the European Bank for Reconstruction and Development (EBRD).

    The loan is to be granted to Jordan's state power firm under a multi-year loan pact, aimed to helping its reform plans and boosting its renewable energy shares.

    The agreement is to improve the process of renewable energy integration into the national power network in Jordan, along with creating investment opportunities for the company.

    Jordan's government secured an agreement with the EBRD on the sidelines of the pact, looking to establish an "ambitious" plan of reforms to NEPCO's governance and operations.

    "Construction of new substations, automated grid management systems and transmission infrastructure will improve the integration of green energy into the national electricity network," the EBRD stated.

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