EBRD finances 45MW wind farm in Jordan

In:

Renewable energy

Region:

Middle East & Africa

The European Bank for Reconstruction and Development (EBRD) is providing a $52 million loan for the construction and operation of a 45MW wind farm in the Shobak region of Jordan.

The loan will be provided to Shobak Wind Energy PSC, a company majority owned by Alcazar Energy Partners. It is split between an A loan provided on the EBRD's own account for $26 million and a B loan funded by the Europe Arab Bank for the same amount. The Islamic Corporation for the Development of the Private Sector has also provided a parallel tranche of Islamic finance totalling $26 million alongside the EBRD's loan.

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