APICORP invests in Jordan Wind Project Company
The Arab Petroleum Investments Corporation (APICORP) has announced its first direct equity investment in a wind energy venture, the Jordan Wind Project Company, which is developing the Tafila Wind Farm.
The multilateral development bank's 20% stake in the project also marks its first equity investment in Jordan.
Abu Dhabi’s renewable energy firm Masdar owns a 50% stake in Jordan Wind Project Company, with APICORP and Tamasuk Holding - the infrastructure and development arm of Al Blagha Holding for Investments Co - partnering to acquire the remaining 50% stake, owning 20% and 30% respectively.
The $287 million 117MW Tafila Wind Farm, near the town of Tafila, is connected to the national grid and accounts for 12% of Jordan’s total operating renewable energy generation, generating around 350GWh of clean energy annually which can power 83,000 homes.
