Korea Southern Power gets funding for project in Jordan

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Korea Southern Power gets funding for project in Jordan

Korea Southern Power, a public power utility, has signed a financing deal with the International Finance Corporation (IFC) and Korea’s state-run Trade Insurance Corporation for a $101 million wind power project in Jordan, a company official said Thursday.

Vestas, a Danish wind turbine maker, will build a 51.75 megawatt wind farm in Tafila, about 140 kilometers (87 miles) south of Jordan’s capital, Amman, a source at Korea Southern Power said.

Daehan Wind Power Company, a firm set up by Korea Southern Power and Daelim Energy, a Korean energy business, will cover 30 percent of the project while the IFC and Trade Insurance Corporation will finance 70 percent of the project, she said.

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