PROJECTS / IPP3 573 MW Build-Own-Operate (BOO) Power Station

IPP3 573 MW Build-Own-Operate (BOO) Power Station

Middle East and North Africa

October 22, 2020

K&M served as the Lead and Financial Transaction Advisor to the National Electric Power Company (NEPCO) of the Hashemite Kingdom of Jordan to assist in the development of a 573 MW power plant as an IPP under a Build-Own-Operate structure. IPP3 is a tri-fuel, reciprocating engine facility capable of operating on natural gas, diesel, or HFO, and it is the largest plant of its kind in the world.
K&M provided commercial, financial, regulatory, and technical support to develop the project’s conceptual design, key project agreements, and commercial structure. K&M developed the international competitive bid tender documents (PPA, government support, fuel, water, land, and grid connection agreement) and managed the entire tender and selection process. K&M also designed the evaluation model and selected a consortium composed of KEPCO, Mitsubishi, and Wärtsilä as the winning bidder to develop the project. On behalf of NEPCO, K&M led negotiations with the project developer to a successful financial close in March 2013 with KEXIM, Nippon Export and Investment Insurance (NEXI), KFW, Standard Chartered, Mizuho Bank, and Sumitomo Bank for a total of US$812 million.

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