On 30 September 2014, the IFC signed financing packages worth $207.5 million to construct seven of the twelve first round solar PV power parks. Each PV developer was too small to sustain the high transaction costs and long processing periods from many small clients. Therefore IFC aggregated all developers into a common platform where IFC’s clients benefit from a dedicated IFC team and reduced transaction costs. The packages support the Jordan’s small-scale solar PV projects, the largest in the Middle East that will boost power supplies in Jordan, where electricity demand is increasing at about 8% every year and also reduce Jordan’s reliance on imported fossil fuels.
Commercial Advisor of the Year