EAB Contributes to Jordan’s Power Needs
EAB, in partnership with the European Bank for Reconstruction and Development (EBRD) and the World Bank’s International Finance Corporation (IFC), is providing financial support for the construction of a 485 megawatt (MW) combined-cycle gas turbine thermal power station in Jordan.
Mahatat Al Zarqa Le Tawleed Al Takah Al Kahrabaieyah, a private limited shareholding company incorporated in Jordan and majority-owned by ACWA Power International, will be using the finance to replace the obsolete Hussein thermal power station and replacing it with a new efficient combined-cycle gas turbine plant.
The plant, situated 40km north-east of Jordan’s capital city, will see natural gas replace the current oil resource providing a much greener solution the country’s growing power needs. The investment will also play an important role in Jordan’s transition to a low-carbon economy because the new plant will also increase the required base load power in the country. This in turn will facilitate the successful integration of more renewable sources of energy in the system.
The Zarqa turbine plant is one of several projects EAB has been part of in Jordan, as the country looks to find ways of meeting its rapidly growing demand for electricity whilst simultaneously reducing its carbon footprint. Such projects are congruent with the Bank’s own environmental values and vision of a greener future for generations to come.