The European Bank for Reconstruction and Development (EBRD) has entered into 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), establishing a coordinated framework to advance the country’s green transition. The agreement outlines a strategic collaboration centered on enhancing energy security through the deployment of renewables and battery storage initiatives, alongside broader measures to expand renewable capacity and integrate battery energy storage systems (BESS). This effort is also designed to strengthen the national transmission network and reinforce NEPCO’s financial and operational resilience, while supporting Jordan’s long-term low-carbon development goals.
Under the terms of the MoU, the EBRD will assist in the preparation and rollout of tenders related to renewables and battery storage, ensuring that project implementation aligns with national priorities. The Bank will also contribute to targeted reforms aimed at improving the financial sustainability of the electricity sector. In parallel, support will be directed toward investments intended to modernise the transmission system, enabling greater efficiency and reliability. The cooperation further extends to technical assistance initiatives, particularly in advancing Jordan’s ambition to develop Aqaba as a regional hub for green hydrogen. As part of this process, the EBRD is evaluating potential financing opportunities for future green hydrogen projects, complementing the broader renewables and battery storage strategy.
The MoU aligns with Jordan’s national objective of sourcing 50 per cent of its energy from renewables by 2033. By facilitating structured development of renewables and battery storage, the agreement supports both capacity expansion and system stability, contributing to a more diversified and sustainable energy mix. The signing of the agreement was formalised by the EBRD’s Vice President for Banking, Matteo Patrone, Jordan’s Minister of Planning and International Cooperation, Zeina Toukan, the Minister of Energy and Mineral Resources, Saleh Al-Kharabsheh, and NEPCO’s Managing Director, Sufian Al-Bataineh.
Since 2012, the EBRD has committed more than €2.2 billion to Jordan across 84 projects, with 73 per cent directed toward the private sector. These investments have included financing support for the banking sector through loans targeting micro, small and medium-sized enterprises, as well as subordinated debt and trade finance facilities. The latest agreement builds on this longstanding engagement, reinforcing institutional collaboration while advancing priorities linked to renewables and battery storage and the broader energy transition agenda.
