Al Rajef Wind Farm

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The project involves the construction and operation of Al Rajef Wind Farm, located at Ma'an Governorate, village of Al Rajef. The facility will have a total capacity of 82 MW. Alcazar, a sole sponsor, will develop the project via its special purpose vehicle - Green Watts Renewable Energy LLC. Al Rajef Wind Farm is a greenfield project initiated on a BOO (Build - Own and Operate) basis. The project originated as a unsolicited proposal by Green Watts Renewable Energy, on behalf of Alcazar, to develop, construct and operate the Al Rajef wind power project in 2011. GWRE was shortlisted by the Ministry of Energy and Mineral Resources (MEMR) of Jordan in April 2012. The Project will support Jordan in increasing its electricity generation capacity from clean, renewable sources and reducing reliance on hydrocarbon imports. It will produce enough electricity for approximately 60,000 local households in Jordan. Jordan’s National Electric Power Company signed a 20-year power purchase agreement to off take electricity from the project in October 2015. The project is being funded through 75 per cent debt and 25 per cent equity. The European Bank for Reconstruction and Development (EBRD) approved a $68m loan to GWRE in October 2016, for the construction of the wind farm. Proparco, a financial institution based in France and a subsidiary of AFD Group, provided $50m project financing for the project in November 2016. Further, a loan of $19m is provided by the German development bank DEG, subsidiary of KfW. The project reached financial close in November, 7 2016. Construction is set to commence in 2016 and is expected to be completed in 22 months. First power from the facility is scheduled for June 2018. http://www.ebrd.com/work-with-us/projects/psd/al-rajef-wind-farm.html https://ijglobal.com/data/transaction/35855/al-rajef-wind-farm-82mw http://www.power-technology.com/projects/al-rajef-wind-farm/