With Jordan’s electricity demand estimated to grow by 5% annually until 2020, the country had to rapidly
develop new sources of energy generation to avoid future shortfalls. At the same time financial losses in the power sector are one of the largest pressures on the Jordanian budget. At the same time, Jordan has plentiful wind and solar resources but has been struggling to harness these over the past decade.

IFC and EP Global Energy (EPGE) played a unique role in this project by engaging early with a private sector partner, to advise on the development of the project, including the financing package and a set of bankable project agreements.

This allowed for an IFC investment of $69 million and mobilization of a further US$152 million in private sector financing.The Jordan Wind Power Company (JWPC), owned in part by EPGE, Masdar and InfraMed Investments, signed a power purchase agreement with the government of Jordan and reached financial close in November 2013. Completion of the new 117MW facility is expected in September of 2015. The Tafila wind project is the first private wind project to reach financial close in the Middle East and North Africa region outside of Morocco.