World Bank to lend USD 70m to 100-MW Jordani solar project - report
Jul 16, 2012 - The World Bank is to support a 100-MW solar power project in Jordan with a loan of USD 70 million (EUR 57m), The Jordan News Agency (Petra) said.
The project calls for a total investment of some USD 600 million, according to the report. The agency quoted Minister of Energy and Mineral Resources Alaa Batayneh as saying that Jordan was looking for other sources of financing.
Jordan, heavily dependent on foreign oil imports, is looking for ways to utilise its own resources. In June daily Jordan Times reported that Jordan's Ministry of Environment and the German Agency for International Cooperation would start construction of a solar cooling system in the kingdom in July. The project aims to demonstrate that solar power can help protect the environment, reduce energy consumption and encourage the use of renewable energy sources in Jordan.