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 the National Electric Power Company (NEPCO) to advance the country’s green transition agenda.
The agreement establishes a strategic cooperation framework aimed at expanding renewable energy capacity and battery energy storage systems (BESS), strengthening the national transmission network, enhancing NEPCO’s financial and operational resilience, and accelerating the development of green hydrogen initiatives.
As part of the collaboration, the EBRD will assist in the preparation and implementation of tenders for renewable energy and BESS projects. It will also support targeted reforms designed to improve the financial sustainability of Jordan’s power sector, alongside investments to modernise transmission infrastructure.
In addition, the bank will provide technical assistance to help position Aqaba as a regional green hydrogen hub, and is considering future financing opportunities for green hydrogen projects in the country.
Jordan has set an ambitious target of generating 50% of its energy from renewable sources by 2033.
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