Agreement signed to build $290mn Jordan wind farm
The wind farm will increase the country's total power capacity by 3%
Jordan Wind Project Company (JWPC) has signed the financing agreement to begin construction of the Middle East's first utility-scale wind-power project.
Located in the Hashemite Kingdom of Jordan, the 117MW Tafila Wind Farm will increase the country's total power capacity by 3% and will cost an estimated $290m.
JWPC is a co-development between InfraMed (50%), Masdar (31%) and EP Global Energy (19%).
"JWPC's 117MW Tafila Wind Farm is the first utility-scale renewable-energy project in the Hashemite Kingdom of Jordan and the region and is a major step towards getting Jordan on the renewable energy map of the world," said Samer Judeh , chairman of JWPC. "His Majesty King Abdullah's vision and the Jordanian Government's strategy, aims to encourage investors and financiers to make these vital projects possible."
"JWPC's highly reputable group of investors is a testament to the quality of the JWPC development and the promising investment climate in renewable energy projects in Jordan. Our country has suffered from a lack of domestic conventional energy sources and from serious challenges in security of energy imports. Jordan, however, has abundant renewable resources, and this will be the first and a showcase for many such projects to come," added Judeh.
Tafila will produce approximately 400 GWh of electricity annually and displace 235,000 tons of CO2 emissions per year.
InfraMed CEO, Frederic Ottavy, said: "The Tafila project is responding to Jordan's pressing energy needs while adapting to the country's unique fossil fuel resource situation, water scarcity and wind abundance. InfraMed and other leading international players' involvement demonstrates the project's economic viability and sets a benchmark for the future implementation of projects under the country's clean energy law.
"This investment is firmly consistent with InfraMed's long term commitment to renewable energy in the region"
With Jordan's electricity demand expected to grow by an estimated 5% annually until 2020, the country is rapidly developing new sources of energy generation to avoid future shortfalls.
"Jordan is one of the Middle East's most promising clean energy markets and this project is another milestone in the region's energy evolution," said H.E Dr. Sultan Al Jaber , CEO of Masdar, Abu Dhabi's renewable energy company.
"Jordan is a prime example of where the cost of renewable energy is lower than conventional sources of power generation. This project is a natural step towards Jordan's energy and economic security. Today, countries in the region are increasingly integrating wind and solar power as commercially viable solutions to address long-term energy security. Just like the rest of the world, the Middle East is faced with meeting rising energy demand, while also reducing its carbon footprint."