The UAE has emerged as one of the top foreign investors in Jordan, with public and private assets totaling nearly 16 billion Jordanian dinars ($22.5 billion), according to the Jordanian Energy and Mineral Resources Ministry.

In a report published by Jordan’s daily Al-Ghad on Wednesday, the Ministry said UAE investment in Jordan have rapidly grown over the past 10 years and a large part of them are in renewable energy projects.

The report showed Abu Dhabi-based Masdar Company is a key investor  in Jordan as it controls nearly 31 percent of Jordan Wind Projects Company (JWPC), equivalent to nearly $90 million out of the estimated total investment of $290 million in the JWPC project.

The report said Masdar has also invested nearly $240 million in a solar power project in Jordan, with a capacity of 200MW.

Another project is Sheikh Zayed solar park in the Southern port of Aqaba at a cost of nearly $150 million, funded by the Abu Dhabi Development Fund.

The report noted that UAE investments were boosted last month by an agreement to provide $400 million to Jordan to fund several projects, including the construction of a $70-million gas network in some industrial zones.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.