Finance of $220m agreed for Jordan wind farm

Deals for $220m of finance for Jordan’s first large-scale renewable energy project have been signed this week.

The JWPC Tafila wind farm is operated as an independent power producer and has secured Euro Jordan wind farm pean and international support covering almost 77 per cent of the total cost of the project.

Agreements have been signed with a consortium of lenders comprising the International Finance Cooperation, the European Investment Bank, the Eksport Kredit Fonden, the OPEC Fund for International Development, FMO, and Europe Arab Bank.

The 117 MW wind farm will be located the Tafila governorate and will be equipped with 38 turbines.

It is intended to help cut Jordan’s current heavy dependency on energy imports and once fully developed it is expected to account for almost 10 per cent of the country's 2020 renewable energy target, which is 1200 MW.

EIB vice-president Philippe de Fontaine Vive said the project "provides a strong and green signal for the future in terms of technology, economic and energy development, and job opportunities”.

Eksport Kredit Fonden chief executive Anette Eberhard added that the wind farm was project “breaking new ground for wind farms in the Arab Mediterranean region, and this bodes well for the future”.

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