[Courtesy of Daelim Energy]
SEOUL -- Two South Korean energy companies have signed a financing agreement worth 80 billion won ($72 million) for the construction of a wind power complex with a capacity of 51.75 megawatts in the Tafilah region in Jordan.
Daelim Energy, a Seoul-based energy and infrastructure development company, and Korea Southern Power (KOSPO), a public energy company, agreed in 2015 to jointly participate in the $101 million wind power project in Jordan and set up Daehan Wind Power, which is responsible for financing, sales of power and licensing.
Daelim said Thursday that Daehan singed a financing agreement with Korea Trade Insurance Corporation (K-SURE), an export credit agency that focuses on promoting trade and overseas investment of South Korean enterprises, and the International Finance Corporation (IFC), a Wolrd Bank lending arm.
The construction of 15 turbines will begin in October and commercial operation in March 2020. Daehan would run the wind power complex for 20 years and sell power to Jordan's state power company.
"It is the hardest thing to take the first step into a new market," Daelim CEO Kim Sang-woo said, citing tough negotiations in the project. He vowed to find a new business opportunity in South America and Africa.
reporter
Lim Chang-won
cwlim34@ajunews.com
