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Korea Southern Power Signs Financing Deal with IFC, K-sure for Jordan Wind Project
A Joint Venture with Daelim Energy
Korea Southern Power Signs Financing Deal with IFC, K-sure for Jordan Wind Project
  • By Jung Min-hee
  • September 27, 2018, 15:12
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A conceptional image of the wind power plant to be built in Tafila, Jordan

Korea Southern Power announced on Sept. 27 that the public power utility has signed a financing deal with the International Finance Corp. (IFC) and Korea Trade Insurance Corp. (K-sure) for a wind power project in Jordan.

Korea Southern Power has jointly set up Daehan Wind Power Company with Daelim Energy, a Korean energy company, to undertake the Jordanian project.

Daehan Wind Power will build and operate a wind farm in Tafila, about 140 kilometers south of Jordan's capital, Amman. The wind farm will have 15 3.45MW turbines and start commercial operation in March 2020.

The IFC, the lending arm of the World Bank Group, and Korea Trade Insurance Corp. have agreed to provide about 80 billion won (US$71.9 million) to finance the project.

Daehan Wind Power has signed a deal to sell electricity to Jordan's state-run National Electric Power Co. from March 2020 to March 2040.