Jordan Wind Project Company (JWPC) has finalized a $221mn debt package with the World Bank’s International Finance Corporation (IFC) to enable it to build a 117MW wind farm in the southern governorate of Tafila. The IFC says Tafila is the first of a number of utility-scale wind and solar power projects in Jordan to reach financial close and will set an important precedent for further investments in the sector.

JWPC is owned by Paris-based investment fund InfraMed (50%), Abu Dhabi’s Masdar (31%) and Cyprus-based EP Global Energy (19%). InfraMed says Tafila will cost $290mn and start delivering power next year, building to full commercial operation – delivering 400GWh of electricity a year – from 2015. JWPC last year prequalified six companies to build the project: Spain’s Acciona Energia and Gamesa Eolica, General Electric of the US, Germany’s Siemens, Denmark’s Vestas and China’s Xinjiang Goldwind. (CONTINUED - 273 WORDS)