Incorporated in the Kingdom of Saudi Arabia, ACWA Power is a privately held developer, owner and operator of power generation and desalinated water production plants throughout the GCC. Its major shareholders include A.K. Al Muhaidib Group, the Abdullah Abunayyan Group and the MADA Group for Industrial & Commercial Investment (member of Al Rajhi Group of Companies of Saudi Arabia, an existing IFC client), all well renowned and highly reputed investors. To date, ACWA Power has been involved in a total of seven IPPs and IWPPs (6 of which are operational), 6 in the Kingdom of Saudi Arabia and 1 in Oman, with a combined capacity of 6,485 MW and 2.32 million m3/day for a total investment in excess of US$12 billion.

IFC will be contributing up to US$15 million acquiring a minority stake alongside ACWA Power in the form of common shares equity in a project company to be established in Jordan

15.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	9.50
Equity	5.50

* These investment figures are indicative

CEGCO’s portfolio of power plants, comprising a total of approximately 1,500 MW, is located across various parts of the country. A detailed map showing the location of the various power plants is attached.

The Project is expected to improve CEGCO’s power plants’ performance, both technically and environmentally, and enhance Jordan’s overall power generation efficiency and possibly increase total installed capacity. This will provide the government of Jordan with a quick, easy to implement and relative cheap solution to meet the expected increase in demand over the next few years enabling it to realize considerable savings.

IFC will be supporting ACWA Power, one of the MENA region most active power developers in non-GCC countries, to enter new markets in the MENA region where development and expertise are in great need. IFC will also be guiding ACWA Power to develop and implement an Environmental and Social Action Plan (“ESAP”) to reduce CEGCO’s power plants’ environmental emissions and enhance health and safety performance. This is expected to gradually boost CEGCO’s compliance with international standards and positively contribute to Jordan’s overall environment and social well being.

IFC’s investment in ENARA together with ACWA Power will help improve the Environmental and Social (“E&S”) performance of CEGCO, in various areas including its management system, and environmental, health and safety performance of existing thermal power plants. ACWA Power retained an independent environmental consulting firm to carry out a detailed environmental due diligence of CEGCO’s assets. ACWA Power’s technical team reviewed the due diligence results and identified the areas in need of improvement to bring CEGCO’s performance to good international industry practice. An ESAP was developed during IFC''s appraisal and agreed to with ACWA Power. The ESAP includes actions to strengthen a corporate level E&S management system to improve Jordanian environmental regulation compliance, to strengthen health and safety training programs, to reduce environmental impacts and risks of existing thermal power stations (fuel storage areas, air emissions and air quality management, hazardous waste management, noise impacts).