Daehan Wind Power Company (IFC-35349)

Countries
  • Jordan
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 19, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
DAEHAN WIND POWER COMPANY PSC
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 53.40 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 113.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 12, 2017

Disclosed by Bank Aug 4, 2017


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Project Description
The project consists of the construction, operation and maintenance of a 51.75MW (installed capacity) wind farm in Jordan's Tafila Governorate (the “Project”). The Project will be an Independent Power Producer, generating about 153 GWh annually for sale to the National Electric Power Company under a 20-year Power Purchase Agreement. Turbine supplier Vestas will be the Engineering, Procurement and Construction and the equipment Operations and Maintenance contractor. Construction is expected to begin in January 2018 and operations by mid-2019.
People Affected By This Project
The Project will: (i) add new generation capacity in Jordan and generate over 153 GWh, meeting growing demand for energy and serving ~27,000 customers annually; (ii) diversify Jordan's fuel mix and provide for energy security by generating electricity from a domestic, indigenous resource which is currently not being used; and (iii) avoid greenhouse gas emissions (GHG) of approximately 112,000 tons of CO2 per annum that would have otherwise been generated from fossil fuel usage.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Daehan Wind Power Company PSC Mr. Taeyong Lee General Manager +82 (70) 4335-0780 nadorose2@naver.com P.O. Box 3627, Amman 11821, Jordan ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/