Jordan: Tafila Wind Farm
This series showcases how the Multilateral Development Banks’ collaboration supports the development and implementation of infrastructure investment. This support comes in the form of public sector loans, private sector finance, sector and transaction advice, guarantees, and output-based aid.
Jordan’s power sector is highly dependent on imported fuel. With plentiful wind and solar resources, Jordan has been seeking ways to harness these resources to reduce wholesale prices, meet growing demand and improve efficiency. Within the framework of the Collaboration Agreement between the International Finance Cooperation (IFC) and the European Investment Bank (EIB), IFC engaged with a private sector partner, EP Global Energy (EPGE), to advise on the development of the project, including the financing package and a set of bankable project agreements. As the lead financier, the European Investment Bank financed 25% of the total cost of the project. The Tafila Wind Project is the first private wind project to reach financial close in the Middle East and North Africa region outside of Morocco and achieved commercial operations on September 16th, 2015.
