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Jordan receives $270m financing from US for power project
- Jordan: Wednesday, September 19 - 2012 at 09:52
The US administration has approved $270m in financing for construction of an approximately 240-megawatt electrical power plant in Jordan that will provide reliable energy for the country during peak usage periods. AES Levant Holdings BV Jordan, an affiliate of the Virginia-based power firm AES Corp, will use the investment guarantee of the Overseas Private Investment Corp (OPIC), the US government's development finance institution, to construct and operate the tri-fuel electrical plant on an unused portion of the Amman East Power project site, for which OPIC provided a $70m loan in January 2007. Called a 'peaker plant,' the facility will provide electricity during periods of peak electricity usage, such as evening hours and summer months.
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