PROJECT | , Korea

KOSPO co-funds $101m 51.75MW wind farm in Jordan

It inked a deal with the International Finance Corp. and the Trade Insurance Corp.

Korea Southern Power (KOSPO) inked a financing deal with the World Bank’s International Finance Corp. (IFC) and the South Korea-run Trade Insurance Corp. for a $101m wind power project in Jordan, Yonhap News Agency reports.

According to a company official, Danish turbine marker will build a 51.75MW wind farm in Tafila, located 140 km south of Jordan capital Amman.

A company set up by KOSPO and Daelim Energy called Daehan Wind Power Company will cover 30% of the project whilst the IFC and Trade Insurance Corp. will finance 70% of the project.

Daehan Wind Power Company is also set to sell power to Jordan's state-run National Electric Power Co. from March 2020 to March 2040 under a power purchase agreement, a corporate insider had disclosed.

Photo by Ymousa - Own work, CC BY-SA 3.0

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