Project history
2006
- Enefit´s first visit to Jordan
- Memorandum of Understanding signed with the Government of Jordan (GoJ) for oil project development
2007
- GoJ´s initial interest in power generation
2008
- Power Project Development Agreement signed between NEPCO, GoJ and Enefit
2010
- 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)
2011
- 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)
2012
- 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
2013
- 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
2014
- 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
2015
- Delivery of Competent Persons Report and resource statement for mine
- Extended negotiation with chinese lenders on debt terms
2016
- 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
- 2020 The plant expected to be operational The plant is expected to be operational by 2020
