The International Finance Corporation (IFC) has signed financing agreements for the Xenel wind project in Jordan, which consists the construction, operation and maintenance of a 49.5 MW wind farm in the Tafila Governorate.
The project is being developed by Abour Energy Company, a private shareholding company incorporated in Amman, under the laws of Jordan. The company is wholly owned by Xenel International Limited, which is owned by the same shareholders who own the diversified Saudi Arabian conglomerate Xenel Industries Limited.
The total project cost is estimated at US$110 million. The IFC's investment consists of a US$28 million loan and US$2 million funds for risk management. Disbursement is pending.
Once complete, the wind farm will generate over 145 GWh, serving approximately 83,000 customers annually through a 20 year Power Purchase Agreement (PPA) with the National Electric Power Company (NEPCO). This will displace thermal power that has a average cost of ~50% above the tariff, helping to alleviate the losses borne by NEPCO. The wind power will also avoid greenhouse gas emissions of approximately 110,000 tons of CO2 per annum.
Country updates
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May 14, 2018
Philadelphia Solar has reached financial close on the project
Philadelphia Solar has reached financial close on the project. Financing was provided by Capital Bank of Jordan. The plant is expected to begin commercial operations in the last quarter of 2018
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April 09, 2018
GE Electric provides the turbines for the project
GE Electric provides the turbines for the project. The facility is expected to be completed by the end of 2019
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March 29, 2018
Vestas has secured a full-scope EPC contract for the project
Vestas has secured a full-scope EPC contract for the project. As part of the deal, Vestas will supply, transport, install and commission 13 units of its V136-3.45 MW turbine. The turbines are expected...
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January 19, 2018
Jordan launches tender for 30 MWp of PV solar projects
The Water Authority of Jordan (WAJ) has issued invitations for prequalification for the construction and operation of 30 MWp of solar power capacity to be split across two locations in the c...
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January 17, 2018
Largest solar PV project in Jordan to receive IFC financing
The International Finance Corporation (IFC) has announced that it has arranged a financing package of up to US$188 million for the 200 MW Baynouna plant, the largest solar pho...
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