The European Bank for Reconstruction and Development (EBRD), Société de Promotion et de Participation pour la Coopération Economique SA (Proparco) and other potential lenders are considering entering into a financing agreement with Green Watts Renewable Energy LLC, to finance the construction, commissioning and operation of the 82 MW Al Rajef wind farm located near the town of Al Rajef in Ma’an Governorate, in the South of Amman, Jordan.
The project was initially developed by Green Watts International, a venture between European Energy A/S of Denmark and the Danish Climate Investment Fund. The developers recently sold 100% of the project to Alcazar Energy, whose shareholders comprise IFC, IFC Catalyst Fund, Mubadala Infrastructure Partners, Alcazar Projects, DASH Ventures and Gateway Partners.
The project involves the installation of 41 Gamesa G114 2.0 MW wind turbine generators and will be constructed under a full scope engineering, procurement and construction (EPC) contract with the turbine supplier.
The project is at an advanced stage of permitting. The power purchase agreement was signed with the state-owned transmission company, NEPCO, in October 2015. The project will connect to the existing NEPCO grid via a newly installed 19 kilometers 132 kV overhead line.
The project is expected to reach financial close by October 2016 and construction is expected to last approximately 22 months.
The lenders are requiring the assistance of a consultant to provide them with a report on the technical aspects and risks of the project in order to enable the lenders to assess whether the company will have the capacity to service the proposed loan.
You can see the consultancy assignment specifications through the following link: