Telecomms, retail and garment manufacturing businesses have signed up to consume the electricity to be generated by eight solar projects in Jordan which will harness grid infrastructure to transfer an estimated 81 GWh of clean power annually.
The loan will be supplied by the EBRD and includes €1.25 million of concessional lending provided by the global Green Climate Fund.
The development lender will supply three-quarters of the funds as Hellenic Petroleum aims to raise €100 million for a reported 18 solar sites in the nation’s coal heartland.
The Caucasian nation could use its hydropower resources to generate the sustainable fuel for transport in its gas pipeline network. An agreement to cost the development of such an industry formed part of a deal which will see the EBRD lend the Georgian Oil and Gas Corporation €217 million to help it through a Covid-19-related cash crisis.
Korporata Elektroenergjetike Shqiptare began development of the €13.9 million facility in December 2018. The European Bank for Reconstruction and Development is considering lending €9.5 million to a project which it is said would help reduce the electric company’s reliance on hydro revenues.
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