Abu Dhabi – Mubasher: Abu Dhabi Future Energy Company (Masdar) on Wednesday has completed the financing of Jordon’s largest solar power plant with $188 million, according to a company statement.

The 200-megawatt plant is developed by Baynouna Solar Energy Company (BSEC), which is jointly-owned by Masdar and Finland’s Taaleri Group, Masdar revealed. 

“Together, we have reached an important milestone with the financial close and are ready to begin construction of the largest solar power plant in Jordan,” Mohamed Jameel Al Ramahi, Masdar’s CEO, commented. 

The World Bank's International Finance Corporation (IFC) arranged the funding of the project.

The financing package comprises a $54 million loan from the IFC and $134 million from other senior banks, IFC said in a statement.

The project is set to be completed by the second quarter of 2020.