EFG Hermes, an investment bank in the Arab world, has announced that InfraMed has made a US$ 40 million investment in Jordan’s first utility-scale wind farm.
The transaction gives InfraMed a 50% stake in the Jordan Wind Project Company (JWPC), which is building the 117MW Tafila Wind Farm. The US$ 290 million Tafila project will increase Jordan’s total power generation capacity by 3%, producing 400 GWh of electricity annually. InfraMed is an investment vehicle dedicated to infrastructure investments in the Southern and Eastern Mediterranean (SEMED) region and is advised by EFG Hermes. JWPC is a co-development between InfraMed; Masdar, Abu Dhabi’s renewable energy company and a wholly-owned subsidiary of Mubadala Development Company (31% stake); and EP Global Energy, a development company specializing in renewable energy projects owned Cyrus’ Paraskevaides Group of Companies (19%).
