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Qatari shareholding company Nebras Power has acquired 40% of The AES Corporation’s interest in the Al-Manakhir IPP4 power plant in Jordan, marking a significant step in Nebras’ growing regional energy portfolio. The announcement was made during a meeting attended by Julian Jose Nebrada Marquez, AES President (Europe, Middle East and Asia), and Khalid Mohamed al-Jolo, CEO of Nebras Power. Following the acquisition, Nebras will now hold a 24% stake in the 241 MW facility, which is reported to supply more than 20% of Jordan’s electricity demand. The transaction is expected to complete next month, subject to final closing conditions. AES currently retains a 60% interest in the project through its wholly owned subsidiaries, while the remaining shares are held by Japan’s Mitsui & Co. The Al-Manakhir Plant, which began commercial operations in July of the previous year, operates 16 tri-fuel generating units and uses natural gas, heavy fuel oil, and diesel to meet Jordan’s increasing power needs. Speaking at the announcement, Fahd Hamad al-Mohannadi, General Manager of Qatar Electricity and Water Company (QEWC) and Chairman of Nebras Power, stated that the latest acquisition of Nebras is in line with the vision of the company’s board of directors to turn Nebras Power into a strong global company. He emphasized that Nebras, in collaboration with international partners, continues to pursue investments in power generation and water desalination projects both regionally and internationally. The company also owns a 35% stake in the Shams Ma’an Solar PV project in Jordan. Al-Jolo added: “Our company started its investments last year after we acquired stakes in the Shams Ma’an project, also in Jordan, and the deal involving Al-Manakhir plant is its second investment in the country in less than a year. It shows how important the Jordan power market is for Nebras.” He also spoke about plans by the company in such markets as Morocco and Turkey, by investing in productive power plants and also by joining hands with some of the major players at the international level. Echoing al-Mohannadi’s comments, al-Jolo said the latest investment is in line with Nebras’ long-term strategy to strengthen its international expertise and reach. Marquez, representing AES, said that AES is committed to delivering best standards and practices in the industry and would utilise all available opportunities in a fast growing market as Jordan, making use of the existing as well as new facilities being developed. |
Nebras Power, valued at USD 1 billion, was established last year as a joint venture between QEWC (60%), Qatar Petroleum (20%), and Qatar Holding (20%), with a mandate to invest globally in energy and water-related infrastructure.
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Khalifeh & Partners Advises Kawar Energy on USD 12.1 Million EBRD Financing
Khalifeh & Partners has advised Kawar Energy on a senior loan facility of up to USD 12.1 million (EUR 10.4 million) provided by the European Bank for Reconstruction and Development (EBRD).
The financing will support the optimisation of Kawar Energy’s capital structure and enhance its financial flexibility, enabling the company to accelerate the development and expansion of its renewable energy portfolio in Jordan and the region.
The transaction reflects continued investment in the renewable energy sector and supports the broader energy transition objectives in Jordan and the region. In addition to the financing, the EBRD is providing a technical cooperation program focused on skills development, inclusive employment initiatives and the strengthening of environmental, social and governance (ESG) practices across Kawar Energy’s operations.
K&P advised Kawar Energy on all legal aspects of the transaction, including the structuring, negotiation and documentation of the financing arrangements.
Senior Associate Adele Shaban and Junior Associate Nizam Nazer, supported by Partner Khaldoun Nazer, led the K&P team.
This mandate further reinforces Khalifeh & Partners’ leading position in advising on complex financing, energy and infrastructure transactions in Jordan, including matters involving major international financial institutions and leading private-sector sponsors.
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Khalifeh & Partners Advises Jordan Capital & Investment Fund on Investment in JOD 50 million “Manara Ventures” Technology Fund
Khalifeh & Partners advised Jordan Capital & Investment Fund (JCIF) in connection with the launch of Manara Ventures GP Limited (“Fund”), a JOD 50 million technology fund established to support high-growth Jordanian startups and advance Jordan’s innovation.
K&P worked on all aspects of JCIF’s investment in the Fund, including the term sheet, shareholders' agreement, limited partnership agreement and subscription documentation. The Fund was launched as a Sharia-compliant investment platform within Abu Dhabi Global Market backed by regional institutional investors, including Abu Dhabi-based investment firm Lunate.
The fund is expected to invest in more than 20 Jordanian technology companies with high growth potential, with investment tickets ranging from USD 750,000 to USD 3 million, including follow-on financing rounds. The fund also includes dedicated capital to support up to 15 companies seeking to expand across regional markets.
Associate Raya Saket, supported by Partner Khaldoun Nazer, led K&P’s team on this transaction.
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Khalifeh & Partners Advises on Jordan’s First Green Ammonia Project
Khalifeh & Partners along with CMS Poland advised Hynfra P.S.A. and its Jordanian partner Fidelity Group in connection with the development of the Jordan Green Ammonia (JGA) project, a landmark clean energy initiative expected to play a significant role in advancing Jordan’s long-term green hydrogen and sustainable fuels strategy.
The firm advised on all aspects relating to the development of the project including the negotiation and execution of the investment agreement with the Government of Jordan, the signing of which took place at the Office of the Prime Ministry of Jordan in the presence of H.E. Jafar Hassan, Prime Minister of Jordan.
The project is expected to exceed USD 1 billion in value and to contribute significantly to Jordan’s emerging green energy ecosystem. Once operational, the project is expected to produce approximately 100,000 tons of green ammonia annually using renewable solar energy and desalinated seawater.
The development will include a large-scale solar power facility in Wadi Araba, supporting transmission infrastructure, and dedicated hydrogen and ammonia production facilities located in Aqaba to facilitate export-oriented operations.
The K&P team was led by Partner Khaldoun Nazer, Senior Associates Dana Mubaidien and Noor Abu Al Samid, supported by Junior Associates Serine ElMasri and Amro ElHudhud.
Related press releases: Hynfra Press Release
Photo source: Petra News Agency
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Iyad Hamarneh Attends Royal Meeting on Judicial Reform
Our Partner and Head of Litigation, Iyad Hamarneh, was honored to be received by His Majesty King Abdullah II, in the presence of His Royal Highness the Crown Prince, at Al Husseiniya Palace, as a member of the Judicial Reform Committee, alongside fellow members.
The meeting followed the submission of the committee’s recommendations, developed pursuant to Royal directives and building on existing institutional frameworks and reform plans.
The committee’s report set out recommendations encompassing legislative review, the development of judicial infrastructure and technology, and amendments to more than 200 legal provisions aimed at unifying procedures and expediting litigation. It also addressed the expansion of the specialized Economic Chamber, the increase in specialized judicial chambers, and the strengthening of judicial capacity to support a more investment-attractive environment.
His Majesty commended the committee’s efforts and emphasized the importance of commencing implementation through a clear execution plan, defined timelines, and effective coordination across relevant stakeholders. His Majesty further underscored the need to assess the impact of these reforms following implementation to ensure their intended objectives are achieved.
We are honored to have our Partner, Iyad Hamarneh, contribute to this important initiative and to support ongoing efforts to enhance the efficiency and effectiveness of the judicial system in Jordan.
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Khalifeh & Partners Advising United Financial Investments Company on Strategic Acquisitions in Jordan’s Financial Brokerage Sector
Khalifeh & Partners has advised United Financial Investments Company (UFICO) on its strategic expansion in the Jordanian market through the acquisition of two financial brokerage firms.
The transaction involved the acquisition of International Financial Center Company, a subsidiary of Housing Bank, and Al-Hikma Financial Brokerage Company. This milestone represents a key step in UFICO’s broader growth strategy, reinforcing its position as a leading player in Jordan’s financial services sector and supporting the continued development of the local capital market.
The International Financial Center Company, largely owned by Housing Bank, is considered among the prominent listed companies on the Amman Stock Exchange, with trading volumes reaching approximately JOD 75 million. As part of the transaction, Housing Bank will retain an equity stake in UFICO. Similarly, Al-Hikma Financial Brokerage Company has recorded annual trading volumes of around JOD 75 million, further reinforcing UFICO’s operational presence following completion of the acquisition.
In advising on this transaction, we delivered end-to-end legal support spanning transaction structuring, drafting and negotiation of transaction documentation, and regulatory advisory. Our integrated and commercially focused approach ensured a seamless execution process and effective navigation of the applicable legal and regulatory landscape. This engagement further underscores our firm’s established expertise in complex M&A transactions within the financial services sector and our continued commitment to supporting clients in delivering strategic, high-impact growth initiatives across Jordan and the wider region.
The K&P team was led by Senior Associate Moawyeh Tarawneh and Junior Associate Alia Farrayeh.
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Khalifeh & Partners Advises AD Ports Group on Aqaba Multipurpose Port Development
Khalifeh & Partners acted as legal advisors to Abu Dhabi Ports Group in connection with the signing of a 30-year agreement with Aqaba Development Corporation (ADC) for the development, modernization, management and operation of a multipurpose and general cargo terminal in Aqaba. The signing ceremony took place in February 2026 at the headquarters of the Aqaba Special Economic Zone Authority (ASEZA) in Aqaba.
The project forms part of a broader development vision for the city of Aqaba and is intended to enhance cargo volumes, operational efficiency and long-term performance and is expected to further strengthen Aqaba’s position as a strategically important regional logistics hub.
Khalifeh & Partners also advised AD Ports Group on the structuring of the transaction, including the shareholders’ agreements, the establishment of the joint venture company and the negotiation of various project-related agreements in connection with the project.
The K&P team was led by Managing Partner Ala’ Khalifeh, with support from Senior Associates Adele Shaban and Siwar Saket, and Junior Associate Alia Farrayeh.