Description

IFC has an equity investment held since 2015 in the renewable energy platform Alcazar Energy Partners (the “Company”), an independent developer and power producer focused on wind and solar projects in the MENA region. The complaint relates specifically to Alcazar Energy’s Al Rajef Wind Project in Jordan, an 86 MW wind farm with a project cost of US$ 185m, located near the village of Al Rajef in the Ma’an Governate of Jordan approximately 220km south of Amman in Jordan. Based on IFC’s equity in Alcazar, it is exposed to the Al-Rajef wind farm project, which commenced commercial operations in November 2018. The project is financed by the European Bank for Reconstruction and Development (EBRD), Deutsche Investitions-und Entwicklungsgesellschaft (DEG) and Proparco.