Korea Electric Power Corp. (KEPCO) has entered the Middle East wind power market by completing an 89.1 MW wind power plant in Hussania, Jordan.
KEPCO secured a 100 percent stake in Fujeij Wind Power Plant and carried out the entire process of the project from construction of the plant to its operation. KEPCO was selected as the preferred bidder in an international tender held by the Jordanian Ministry of Energy and Mineral Resources in 2013. KEPCO signed a power sales contract in December 2015, succeeded in financing the project in December 2016, and began the power plant’s commercial operation in July.
The project cost about US$181 million. The project was financed through a project financing method. KEPCO’s subsidiary in Jordan received funds from the Korea Export-Import Bank and international commercial banks. KEPCO expects to generate US$580 million in sales over the next 20 years after the commencement of the power plant’s commercial operation.
With the completion of Fujeij Wind Power Plant, KEPCO will operate a total of three power plants in Jordan along with the Al-Katrana Gas Combined Cycle Power Plant and the Amman Asia Diesel Power Plant. The three plants make up about 20 percent of Jordan's total power generation volume. KEPCO plans to expand cooperation across the Jordan power industry in areas such as new and renewable energy and power transmission and distribution.