Khaberni - The Ministry of Planning and International Cooperation, on Tuesday, witnessed the signing of a work framework memorandum with the European Bank for Reconstruction and Development to support renewable energy, battery energy storage, and the upgrading of the electric grid.
The memorandum of understanding was signed by the Minister of Planning and International Cooperation, Zeina Toukan, Minister of Energy and Mineral Resources, Saleh Al-Kharabsheh, and the General Manager of the National Electricity Company, Sofian Al-Batayneh, with the Deputy President of the European Bank for Reconstruction and Development for Banking Services, Matteo Patroni, aimed at supporting the green transformation in the kingdom.
The work framework is scheduled to contribute to enhancing the energy sector through reforms to improve the financial resilience and sustainability of the National Electricity Company, as the agreement will advance Jordan's low-carbon trajectory and develop green hydrogen.
The memorandum of understanding establishes a strategic cooperation framework focusing on enhancing energy security by expanding renewable energy capacities and battery storage systems, improving the national electrical transport system, and boosting the financial and operational resilience of the National Electricity Company. The agreement will also support the advancement of Jordan's low-carbon pathway and accelerate the development of green hydrogen.
Under the agreement, the bank will support the preparation and implementation of renewable energy projects and battery storage systems tenders, assist in implementing targeted reforms to improve the financial sustainability of the electricity sector, alongside supporting investments needed for modernizing the electrical transport network.
The bank will also provide technical support to assist Jordan in transforming Aqaba into a regional hub for green hydrogen, including studying the potential for financing future projects in this field.
The memorandum of understanding supports Jordan's goal of generating 50% of its total energy mix from renewable sources by 2033.
Since 2012, the bank has invested more than 2.2 billion euros in Jordan across 84 projects, with 73% of these directed towards the private sector, including financial support to the banking sector through loans to micro, small, and medium enterprises, secondary debt instruments, and trade financing facilities.
