IFC and IDB mulling financing KOSPO’s Jordan wind

The International Finance Corporation (IFC) and Islamic Development Bank (IDB) are mulling financing Korean Southern Power Company’s (KOSPO) and Daelim Energy’s 51.75 MW wind energy project in Jordan.

The total project investment is estimated at US$113 million. The IFC is expected to provide a combination of an A loan of up to US$26.7 million and a B loan of up to US$26.7 million. Furthermore, the IDB would provide US$26.7 million to finance the wind facility.

Located in the Tafila region of Jordan, south of the capital Amman, the project involves the development, operation and maintenance of a 51.75 MW installed capacity wind facility. It is expected to generate about 153 GWh power annually, which will be sell to the National Electric Power Company under a 20-year power purchase agreement (PPA). 

Construction works are set to begin in January 2018, while the new wind farm is scheduled to commence operations by mid 2019.