International Company for Water and Power Projects (ACWA Power), a Saudi power and water desalination firm, and IFC, a member of the World Bank Group, are investing in Jordan's largest electricity producer to improve power delivery in the country and boost investor confidence in Jordan's energy sector. IFC is investing about $10.5 million to support ACWA Power's acquisition of Enara Energy Investments PSC, which in turn owns 51 percent of Jordan's Central Electricity Generating Company (Cegco). IFC's investment will support ACWA Power's plans to improve the efficiency of Cegco's power plants through their repowering, up-rating and rehabilitation and to expand Cegco's generating capacity to keep pace with the country's rapidly growing electricity needs. This partnership with IFC is yet another key milestone in the history of ACWA Power, as it continues to expand operations.
