Shobak Wind Farm

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The project envisages the financing, construction and operation of a wind power plant located in Shobak town. Total capacity of the facility is 44.6 MW. Shobak Wind Energy PSC is the special purpose vehicle created for the execution of the project. It is majority owned (90%) by Alcazar Energy Partners, a Dubai-based independent developer and power producer. US-based power developer Hecate Energy has a minority shareholding (10%) in the project. Project is procured under Independent Power Producer modality (license scheme) and will benefit from a long - term (20 years) PPA with the Jordanian National Electricity Power Company (NEPCO). Total investment in the project is estimated at $104 million and is financed with $78 million of debt and 26 million in sponsors' contribution (equity) on a pro rata basis. Europe Arab Bank (part of Arab Bank), in partnership with the European Bank for Reconstruction and Development (EBRD), is providing financial support in the total amount of $52 million. EBRD provided $26 million A loan, and syndicated the other $26 million to Europe Arab Bank. The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group, will provide the balance of the required senior financing of $26 million through a parallel Islamic financing tranche. Financial close was achieved, according to Alcazar's website in December 2017. http://www.hecateenergy.com/blog/ebrd-mulls-loan-45-mw-wind-park-jordan http://www.ebrd.com/work-with-us/projects/psd/shobak-wind-farm.html http://alcazarenergy.com/our-projects/ https://www.eabplc.com/?page=203 Hecate Energy to be added to sponsors' list (10% ownership)