EBRD and Jordan signed an MoU to boost renewable energy, energy security, green hydrogen, and sustainable economic growth.
The European Bank for Reconstruction and Development (European Bank for Reconstruction and Development) has entered into a memorandum of understanding (MoU) with the Government of Jordan to strengthen the nation鈥檚 energy security and accelerate its transition toward a greener and more sustainable future. This agreement brings together Jordan鈥檚 Ministry of Planning and International Cooperation, the Ministry of Energy and Mineral Resources, and the National Electric Power Company (National Electric Power Company), commonly known as NEPCO, under a shared framework of cooperation aimed at transforming the country鈥檚 energy sector.
The MoU creates a strategic partnership focused on expanding renewable energy generation, increasing the use of battery energy storage systems (BESS), improving the national electricity transmission network, and strengthening the financial and operational stability of NEPCO. These efforts are designed to reduce Jordan鈥檚 dependence on conventional energy sources, improve the reliability of electricity supply, and support the country鈥檚 long-term environmental and economic goals.
A major objective of this agreement is to help Jordan move further along its low-carbon development path. By supporting cleaner energy solutions and reducing carbon emissions, the EBRD aims to contribute to the country鈥檚 broader climate commitments and sustainable development plans. The cooperation will also play a significant role in promoting the development of green hydrogen, which is considered one of the most promising clean energy solutions for the future.
As part of the partnership, the EBRD will provide assistance in preparing and implementing tenders for renewable energy projects and battery storage systems. This includes helping the country attract investment and ensure efficient project execution. In addition, the Bank will support policy reforms that improve the financial sustainability of the electricity sector, making it more resilient and better equipped to meet future energy demands. Investments will also be directed toward upgrading and modernising Jordan鈥檚 transmission infrastructure so that renewable energy can be integrated more effectively into the national grid.
Another important aspect of the agreement is the support for Jordan鈥檚 ambition to establish Aqaba as a regional hub for green hydrogen production and export. The EBRD will provide technical assistance to help develop the necessary infrastructure, planning, and strategy for this initiative. It is also considering future financing opportunities for green hydrogen projects, which could significantly enhance Jordan鈥檚 position in the clean energy market and create new economic opportunities.
This agreement strongly supports Jordan鈥檚 national energy strategy, particularly its goal of generating 50 percent of its total energy from renewable sources by the year 2033. Achieving this target would mark a major step toward energy independence, reduced emissions, and long-term sustainability.
The MoU was officially signed by Matteo Patrone, Vice President for Banking at the EBRD, along with Zeina Toukan, Jordan鈥檚 Minister of Planning and International Cooperation; Saleh Al-Kharabsheh, Minister of Energy and Mineral Resources; and Sufian Al-Bataineh, Managing Director of NEPCO.
Since beginning operations in Jordan in 2012, the EBRD has invested more than 鈧�2.2 billion across 84 projects in the country. Around 73 percent of these investments have been directed toward the private sector, including support for banks through loans for micro, small, and medium-sized enterprises, subordinated debt, and trade finance facilities. This continued partnership reflects the EBRD鈥檚 strong commitment to Jordan鈥檚 economic growth, energy reform, and green transformation.
