Jordan’s Baynouna solar project receives $188 million in funds

The 200 MW Baynouna solar project in Jordan, developed by Abu Dhabi-based renewable energy company Masdar, has received financial assistance of $188 million. Of this, the International Finance Corporation (IFC) will provide a $54 million loan while the remaining $134 million will be mobilised from other lenders including the Japan International Cooperation Agency, Dutch Development bank FMO, Europe Arab Bank, the OPEC Fund for International Development and German development bank DEG. The project is expected to be commissioned by the second quarter of 2020. When complete, it will power about 110,000 homes and displace 360,000 tonnes of carbon dioxide annually.

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