APICORP completes acquisition of 20% stakes in the Tafila Wind Farm Project

The Arab Petroleum Investments Corporation (APICORP), a multilateral development bank, has completed its first direct equity investment in a wind energy venture, the Jordan Wind Project Company (JWPC), the developer of the Tafila Wind Project in the Hashemite Kingdom of Jordan after the purchase of a 20% equity stake in the project. 

Tafila Wind Farm is owned and operated by the Jordan Wind Project Company PSC (JWPC), in which Abu Dhabi’s renewable energy firm Masdar owns a 50% stake. APICORP and Tamasuk Holding, the infrastructure and development arm of Al Blagha Holding for Investments Co., partnered to acquire the remaining 50% stake, owning 20% and 30% beneficial stakes, respectively.

Officially inaugurated in December 2015, Tafila Wind Farm displaces nearly 235,000 tons of CO2 emissions per year. It also undertook a comprehensive Environmental and Social Impact Assessment (ESIA) during its development period to identify environmental and social impacts the project may have in the surrounding areas and continues to implement a strict social and environmental regime in accordance with lenders’ requirements, Jordanian environmental guidelines, and international best practices.