Wind energy is a very promising renewable energy source, and the Tafila Wind Farm will be the first renewable project to begin operations in Jordan and provide power to the Jordanian network. It breaks new ground for renewable energy projects in the Mediterranean as it is an example of partnership between the government and the private sector and demonstrates the Best Practice model. As a private investment, Tafila has a high trans-boundary demonstrative effect on growing business opportunities in the region. Tafila can also serve as an example for replication.
The Union for the Mediterranean labelled the Tafila Wind Farm project in April 2014 as recognition of a leading project that could serve as an example for other promoters and institutions in the region, especially because of the cooperation between the public and private sectors.
About the promoter and partner institutions
The promoter of Tafila Wind Farm project is a Jordanian registered company under the name “Jordan Wind Project Company PSC (JWPC)”, developed by EP Global Energy of Cyprus (EPGE) who attracted investment from the following equity holders:
- 50% InfraTaf Holding SàRL, a wholly owned subsidiary of Inframed fund
- 31% Masdar Solar & Wind Coöperatief U.A., a wholly owned subsidiary of Masdar Power
- 19% EP Energy Projects (Jordan) Holdings LTD, a subsidiary of EP Global Energy;
Within the framework of the Collaboration Agreement between the International Finance Corporation (IFC) and the European Investment Bank (EIB), and a consortium of lenders comprising Denmark’s Export Credit Agency (EKF), the OPEC Fund for International Development (OFID), the Entrepreneurial Development Bank (FMO) and the Europe Arab Bank (EAB), the financing agreements were signed by all parties involved.