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KEPCO's 89-MW wind project in Jordan reaches fin close

Author: 401(K) 2012 on Flickr, CC BY-SA 2.0

December 20 (SeeNews) - The 89.1-MW Fujeij wind project in Jordan, developed by Korea Electric Power Co (KRX:015760), or KEPCO, has reached financial close last week.

Ashurst LLP, which advised the lenders and the commercial funders, said the funding includes a USD-64-million (EUR 61.5m) direct loan by the Export-Import Bank of Korea (K-Exim) and a USD-52-million K-Exim covered facility provided by Mizuho Bank Ltd and Sumitomo Mitsui Banking Corp Europe Ltd. Also, equity bridge facilities of a combined USD 81 million are being funded by the commercial banks.

The wind park will have 27 turbines of the model V126 3.3MW by Denmark’s Vestas Wind Systems (CPH:VWS). Commercial operation is to start in October 2018. KEPCO has a 20-year power purchase agreement (PPA) for the wind farm with the Kingdom’s National Electric Power Company (NEPCO).

The wind park will be built about 150 km (93.2 miles) south of Amman.

(USD 1 = EUR 0.96)

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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