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Jordan inks MoU with Hanergy for 1 GW of wind, solar projects

Solar PV plant. Featured Image: Gilles Paire/Shutterstock.com

May 28 (SeeNews) - Jordan has recently signed several energy deals with foreign companies including a Memorandum of Understanding (MoU) with Hanergy Thin Film Power Group (HKG:0566) for 1 GW of wind and solar projects.

The Jordan News Agency (PETRA) said there will be a 20-year power purchase agreement (PPA) between the Hong Kong-based solar company and the Ministry of Energy and Mineral Resources in Jordan. The projects are valued at USD 1.5 billion (EUR 1.37).

Late last week it was also announced that Hanergy will grant USD 310 million to boost the kingdom’s grid capacity and thus allow Jordan to connect more renewable power plants.

Other energy deals involve exploration of oil and gas and copper ore and exploration and development of oil shale. A MoU for the purchase electric vehicles for the public sector has been signed between Jordan’s Royal Hashemite Court and Tesla Motors, Renault and BMW

Jordan currently imports 97% of its total power and is working on several renewable energy projects, in line with its goal to source 40% of its total power from local resources by 2020.

(USD 1 = EUR 0.916)

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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