DFIs back Al Rajef wind in Jordan

Development finance institutions (DFIs) including the European Bank for Reconstruction and Development (EBRD), France’s Proparco and Germany’s DEG have provided $139.4 million in debt for Alcazar’s 82MW Al Rajef wind project in Jordan.

The EBRD will loan $70 million to the project, according to a statement. This will be accompanied by $50 million in debt from Proparco and $19.4 million from DEG.

EBRD’s board approved its loan at a meeting in September 2016.

The $180.4 million project is 100% owned and under development by Alcazar, who acquired it from Green Watts International. Alcazar is owned by the International Finance Corporation (IFC), IFC Catalyst Fund, Mubadala Infrastructure Partners, Alcazar Projects, DASH Ventures, and Gateway Partners.

SOURCE : www.ijglobal.com