World Bank member offers 71 mln USD for building wind power plant in Jordan

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World Bank member offers 71 mln USD for building wind power plant in Jordan

November 9, 2018 Anand Gupta

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AMMAN (Rahnuma) International Finance Corporation (IFC), a member of the World Bank Group, said on Wednesday that it is providing 71 million U.S. dollars to finance the construction of the new Daehan Wind Power Plant in Jordan.

The 51-megawatt plant, the IFC’s second major investment in Jordan’s wind sector this year, will be built in the southern governorate of Tafila to provide clean energy to homes and businesses across the country, IFC said in a statement to Xinhua.

During the last two decades, the World Bank Group has played a key role in Jordan’s energy sector by aiding its privatization through regulatory and financial support, with IFC having invested more than 300 million dollars in 13 renewable projects.

Jordan, which imports 97 percent of its energy, is working on energy projects including renewable energy ones to reduce its reliance on imported energy sources.