Sep 18 (Renewables Now) - Spanish solar developer Fotowatio Renewable Ventures (FRV) announced today it has secured a USD-65-million (EUR 54.3m) loan to finance a 51-MW solar project in Jordan.
The company received the financing from the European Bank for Reconstruction and Development (EBRD) and the Netherlands Development Finance Company (FMO). The loan, which will be divided equally between the two lenders, will be used for the development of FRV's third project in the country, namely the Al-Safawi photovoltaic (PV) plant.
Spread over 170 hectares in Safawi region, the new plant will be comprised of more than 200,000 monocrystalline PV panels. It will be able to meet the demand of some 40,000 Jordanian homes.
FRV’s other projects in the country are Mafraq I and II. Together with the Al-Safawi park, the three plants will have the combined capacity to power approximately 120,000 homes.
(USD 1 = EUR 0.836)