Jordan a key market for Masdar’s renewable energy projects
Abu Dhabi, UAE – 20 January 2016: Masdar, Abu Dhabi’s renewable energy company, has announced an agreement to develop a commercially-driven utility-scale 200 megawatt (MW) photovoltaic solar plant for Jordan’s Ministry of Energy and Mineral Resources (MEMR).
The agreement, comes less than one month after Masdar and its partners inaugurated the 117MW Tafila wind farm in the Hashemite Kingdom.
The agreement was formalised during World Future Energy Summit, part of Abu Dhabi Sustainability Week (ADSW) – the largest annual gathering on sustainability in the Middle East, taking place in Abu Dhabi.
Dr Ahmad Belhoul, CEO of Masdar, said: “Jordan is a key market for Masdar in the MENA-region. With regional energy demand set to double by 2030, we believe the majority of that growth will be met from renewable energy. This growth represents a strong business case for renewables, not just in Jordan, but also across the wider MENA region.”
HE Dr Ibrahim Saif, Jordan’s Minister of Energy and Mineral Resources said: “This project is an investment in Jordan’s future energy security. It reflects the vision of His Majesty King Abdullah II to reduce the Kingdom’s reliance on imported energy and limit our carbon footprint. We believe the project will stimulate the investment climate for similar renewable energy projects in Jordan and will strengthen out status as a new and important destination for renewable energy investments in the region."
The announced solar plant is Masdar’s second major investment in Jordan. In December it successfully delivered the Tafila wind farm, a joint venture between Inframed, EPGE and Masdar, that will account for almost 6.5% of Jordan’s 1,800MW renewable energy target for 2020. The 117MW installation will create enough electricity to power 83,000 homes while reducing the country’s carbon emissions by 235,000 tonnes annually.
Both the solar project and the Tafila wind farm are in line with Jordan’s vision to diversify its energy sources and promote greater reliance on renewable energy and a response to the Kingdom’s 2010 renewable energy law, calling for around 15% electricity to come from renewable sources by 2020. Jordan imports around 96% of its energy needs at a cost equivalent to 20% of the country's GDP.
Masdar, owned by Mubadala, has committed more than US$1.7 billion to renewable energy developments, with those investments helping to deliver nearly 1 gigawatt of clean power in the United Arab Emirates and many countries across the globe.