The European Bank for Reconstruction and Development (EBRD) has signed a memorandum of understanding (MoU) with Jordan’s Ministry of Planning and International Cooperation, Ministry of Energy and Mineral Resources, and its National Electric Power Company (NEPCO) to support the country’s green transition.

The MoU establishes a strategic framework for cooperation focused on expanding renewable capacity and battery energy storage systems (BESS), improving the national transmission system, enhancing NEPCO’s financial and operational resilience and accelerating green hydrogen development.

Tender support

Under the agreement, the EBRD will support the preparation and implementation of tenders for renewables and BESS

The bank will also help with targeted reforms to improve the financial sustainability of the electricity sector and with investments to modernise the transmission network.

EBRD said it will also provide technical assistance to support Jordan’s ambition to position Aqaba as a regional green hydrogen hub, with the EBRD considering financing future green hydrogen projects.

Jordan’s is targeting for 50 per cent of its energy to come from renewables by 2033.

(Writing by Majda Muhsen; Editing by Anoop Menon) 

(anoop.menon@lseg.com)

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