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Project history

  • Enefit´s first visit to Jordan
  • Memorandum of Understanding signed with the Government of Jordan (GoJ) for oil project development
  • GoJ´s initial interest in power generation
  • Power Project Development Agreement signed between NEPCO, GoJ and Enefit
  • Oil Shale Surface Retort Concession Agreement signed with GoJ
  • Performing Pre-Feasibility study for the Oil Shale Fired Power Plant
  • Starting negotiations with GoJ on the project agreements (Power Purchase Agreement, Implementation Agreement)
  • Completion of selling 30% of shareholding in Jordan oil and power projects to the Malaysian corporation YTL Power International
  • Starting the detailed exploration program and design (geology, hydrogeology, mine conceptual design, pilot tests, etc)
  • The main project agreements (PPA, IA etc) agreed with NEPCO and approved by Minister of Energy and Mineral Resources
  • Launching the EPC tender for engineering, procurement and construction of the Power Plant
  • Receiving the binding proposals from 6 potential EPC contractors
  • 930 M tons of oil shale resource confirmed by SRK (independent expert)
  • Environmental Impact Assessment approval by Jordan Ministry of Environment
  • Approval of environmental regulation on solid fuels by GoJ
  • Selecting GPEC as the winner of the EPC tender as the EPC contractor
  • Financing by Bank of China and Industrial and Commercial Bank of China for USD 1.4 bn, covered by Sinosure
  • Tariff proposal made to NEPCO
  • Finalising the negotiations of the project documents (incl tariff), and signing the PPA and other project agreements with GoJ
  • Signing the EPC contract with GPEC
  • Project structuring, and starting the banks´ and investors´ Due Diligence
  • Delivery of Competent Persons Report and resource statement for mine
  • Extended negotiation with chinese lenders on debt terms
  • Signed SPA for sale of 45% stake in project to Guandong Yudean Group Company Limited
  • Signing of Financing Agreements for c. US$1.6bn debt facilities
  • Signing of revised Project Agreements with Government of Jordan
  • 2020 The plant expected to be operational The plant is expected to be operational by 2020