Business – Renewable Energy

Since the launch of the first Energy Sector Strategy in 2007, Jordan’s vision has been to integrate renewables into its energy mix, with targets of 7% and 10% by 2015 and 2020 respectively. In 2012 the Ministry of Energy and Mineral Resource (MEMR) opened doors to developers to submit their interests in renewable energy projects. With Stage 1 (200 MW) nearly coming to its financial close phase, MEMR has also initiated Stage 2 and 3 with a total capacity of 400 MW.

 

KEC has a bigger interest in these projects not only as an equity investor, but also as a believer of Green Clean Energy, and the perfect geographical location of Jordan. KEC is involved with many developers in all stages, and is keeping a close eye on the financial closing stage for phase one as developers conclude their efforts.


KEC is also looking into building local capacity for such projects, as this new field will be creating lots of new Jobs.