Saudi Arabian water desalination and power generation company ACWA Power International has completed an acquisition that means that it owns a controlling stake in Jordan’s largest electricity producer, Central Electricity Generating Co (CEGCO).

ACWA Power has purchased a 65 per cent share in Enara Energy Investments, which owns 51 per cent of CEGCO. ACWA Power has also sold a minority stake in Enara to the International Finance Corporation (IFC), a member of the World Bank Group.

In June 2011, ACWA Power entered into an agreement with Jordan Dubai Capital to acquire a controlling stake in CEGCO.

CEGCO has 1550 MW of installed capacity, meeting 59 perc ent of Jordan’s current electricity consumption through seven power generation sites across the country. However, existing power plants are close to decommissioning and, as part of the agreement, ACWA Power will be supporting refurbishment of the power infrastructure in Jordan.

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