AMMAN — Jordan on Wednesday signed a framework agreement with Masdar, Abu Dhabi’s renewable energy company, to allow the firm to play a prominent role in the development of renewable energy in the Kingdom.
The agreement was signed during the sixth World Future Energy Summit, a global platform that addresses the future of renewable energy and sustainable development in the Middle East and the world, and a key element of the Abu Dhabi Sustainability Week (ADSW), according to a statement from Masdar.
Her Majesty Queen Rania delivered a keynote speech at the opening of the ADSW on Tuesday, underscoring the importance and growing commitment to renewable energy in Jordan and throughout the region.
In the statement, Masdar said Jordan was one of the Middle East’s most promising clean energy markets because of its new renewable energy feed-in tariff, which creates incentives for local renewable energy projects and shows the country’s commitment to curbing its dependence on fossil fuels.
“This agreement lays the foundation for Jordan to partner with Masdar and utilise our expertise to deploy renewable energy projects,” Masdar CEO Sultan Ahmed Al Jaber said, adding that the Kingdom has “identified the value and long-term benefits of investing in clean energy”.
The agreement details a collaborative plan for Masdar to strategically engage in Jordan’s transition from hydrocarbon reliance to a more diversified and secure energy mix, the statement added.
The agreement has two components: facilitating competitive tenders for renewable energy projects for Masdar in Jordan, and creating a public-private partnership between the two parties allowing the Kingdom to consult directly with Masdar on the viability of domestic projects and leverage its expertise in the delivery of those projects.
“Jordan’s steadfast desire to navigate a path towards energy security and sustainability is of great national importance. The renewable energy industry is set to provide a significant boost to our economy as well as provide a pathway to meet future energy demands,” the statement quoted Minister of Energy and Mineral Resources Alaa Batayneh as saying.