Prince Asem inaugurates 7th renewable energy investment forum

AMMAN — The Seventh International Investment Forum for Renewable Energy and Energy Efficiency in MENA kicked off on Sunday, the Jordan News Agency, Petra, reported. 

Organised by the Arab Renewable Energy Commission (AREC), the forum was inaugurated by HRH Prince Asem Bin Nayef, in the presence of HRH Princess Sana Asem and HRH Prince Nayef Bin Asem.

The three-day forum will cover a number of issues concerning renewable energy, energy efficiency, smart cities and grids, green hydrogen and sustainability.

Secretary General of the Energy Ministry Amani Azzam said that during the past 10 years, Jordan has faced many challenges in the energy sector, most notably is the Kingdom’s near total dependence on energy imports

Nearly 98 per cent of energy was imported in 2011, Azzam said, adding that this has resulted in significant economic losses for the domestic energy sector and wider economy. 

Accordingly, Jordan has set goals for generating safe, sustainable and reliable energy, while minimising costs by diversifying sources and increasing self-reliance, she noted. 

The Kingdom's decision to develop the legislative and regulatory environment of the renewable energy sector has drawn the attention of international and regional renewable-energy companies, she added. 

As a result, renewable energy projects supply 2,500MW of power to the national grid today, or about 26 per cent of the total electrical energy consumed in the Kingdom in 2021.

Azzam added that renewable energy projects will cover more than 30 per cent of Jordan’s electricity consumption in 2030.

About 1,000MW of renewable energy projects in Jordan are dependent upon net metering, as consumers are allowed to invest in renewable energy to cover their electricity consumption.

She also referred to the prospects of establishing pumped storage hydropower stations, to begin operating by 2030.

She stressed the ministry's commitment to strengthening electrical transmission networks with neighbouring countries, including Egypt, Palestine, Iraq and Saudi Arabia. 

Jordan has witnessed a remarkable increase in the number of electric vehicles during recent years. Electric vehicles now account for 2 per cent of the Kingdom’s cars, around 37,000 vehicles. She voiced her keenness to raise this figure to 30 per cent by 2030.

The forum focuses on promoting the use of renewable energy in Arab countries through international cooperation.

The following countries are set to participate in the forum: Saudi Arabia, Qatar, Kuwait, Egypt, Sudan, Libya, Palestine, Syria, Mauritania, Morocco, the US, Switzerland, Germany, Czech Republic, The Netherlands, Romania, Italy, Greece, Turkey, Yemen, Britain and Chad.