The World Bank’s financial arm, the International Finance Corp. (IFC), finalized a $221-million debt package for the development of a wind farm in Jordan.
The 117-MW plant in Tafila will supply the Jordan Wind Project Co. (JWPC) power, marking the country’s first privately-owned renewable energy facility. JWPC, a special-purpose vehicle owned by sponsors the Euro-Mediterranean fund InfraMed, Masdar of Abu Dhabi, and EP Global Energy of Cyprus, provided $69 million in loans and helped directly mobilize another $79 million from other lenders.
EksportKreditFonden, the European Investment Bank, FMO, the OPEC Fund for International Development, and Europe Arab Bank also participated in financing the project.
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