The consortium of Korea Electric Power Corporation and Xenel Industries Ltd. was declared first-ranked bidder among a group of five international bidders on 17 July 2008 by the Ministry of Energy and Mineral Resources of Jordan. The consortium established the Qatrana Electric Power Company in Amman, Jordan for the purpose of implementing the Al Qatrana IPP.
The project consists of the construction and operation of a 373 MW CCGT power generation facility in Al Qatrana (90 km south of Amman) on a BOO basis. Under the terms of a 25-year PPA, the project sells all its power output to Jordan’s National Electric Power Company (NEPCO), whose financial obligations are guaranteed by the Government of Jordan (GOJ). NEPCO is also responsible for procuring and supplying the natural gas requirements of the Project.
Once the consortium was declared preferred bidder it promptly mobilised the EPC contractor so as to achieve the project completion date set by GOJ. And in spite of the difficult financial conditions was able to achieve Financial Close on 24 November 2009.