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International Finance Corporation (IFC), a member of the World Bank Group, is providing a US$ 71 million financing package to fund the construction of the new Daehan Wind Power Plant in Jordan.
The 51MW plant will be built in the southern governorate of Tafila. The US$103 million project is being developed by two Korean sponsors, KOSPO and Daelim Energy. IFC is providing a US$ 10 million loan for its own account and also acted as lead arranger, mobilising parallel loans of US$ 26 million from Managed Co-Lending Portfolio Program (MCPP), US$ 27.7 million from the Standard Chartered Bank, and US$ 8 million from Korea’s Shinhan Bank. IFC also structured an equity bridge loan of US$ 26 million and will provide interest rate swaps for half the financing package.
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