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Biz News Korea(Eng)
Korea Eximbank to provide $120 mn PF for KEPCO’s wind farm construction in Jordan
- Collected
- 2016.11.23
- Distributed
- 2016.11.24
- Source
- Go Direct
Korea Eximbank announced on Tuesday it signed a contract to finance the so-called Fujeij project with KEPCO and loan providing private financial institutions including Japan’s Mizuho Bank.
The Fujeij project is the first energy project in a developing country that a Korean company will carry out with investments from private lenders. The Korean utility firm will set up an 89.1 megawatt wind power plant that has 27 wind turbines with a capacity of 3.3 megawatt (MW), each, in Fujeij, 150 kilometers south from Amman. An unnamed official from the state-owned bank expected the project would lay the foundation for Korean companies to win more deals in overseas renewable energy businesses.
The construction of the wind farm is scheduled to be completed in October 2018. The bank would be paid back the principal every six month on an 18-year installment plan after the completion of the construction.
By Noh Seung-hwan
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