Masdar signs MoU with Jordan's Ministry of Energy and Mineral Resources to explore development of 2 GW renewable energy projects

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• MoU signed by UAE Minister of Industry and Advanced Technology, Special Envoy for Climate Change and Chairman of Masdar, and Jordanian Minister of Energy and Mineral Resources on sidelines of COP27 climate conference

ABU DHABI, UAE, Nov. 17, 2022 /PRNewswire/ -- Masdar, one of the world's leading renewable energy companies, announced today that it has signed a memorandum of understanding (MoU) with Jordan's Ministry of Energy and Mineral Resources to explore collaboration in renewable energy projects with a total capacity of up to 2 gigawatts (GW).

The MoU was signed by His Excellency Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Special Envoy for Climate Change and Chairman of Masdar, and His Excellency Dr Saleh Al-Kharabsheh, the Jordanian Minister of Energy and Mineral Resources, at an event on the sidelines of the 2022 United Nations Climate Change Conference (COP27).

HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Special Envoy for Climate Change, and Chairman of Masdar, said, "This new MoU to explore the development of 2 GW capacity is a testament to the close brotherly relationship between the UAE and Hashemite Kingdom of Jordan as well as our shared commitment to sustainability and decarbonization. The projects being explored through this memorandum would support Jordan's ambitious renewable energy goals and help to ensure energy security for the nation. As we look toward hosting COP28 in the UAE next year, Masdar is dedicated to supporting our neighboring countries in the Middle East in their energy transitions."

HE Dr Al-Kharabsheh said, "Jordan is already a pioneer in renewable energy development in the region, where it currently produces around 29 percent of its electricity from renewable sources, and aims to increase this share to 50 percent by 2030. The country is also looking to become a regional hub for green energy production benefiting from the abundance of renewable energy energies, in addition to its central location in the Middle East and Africa.

"In Jordan, we believe in the collaborative work; whether on the regional or national level, and the partnership with our brothers in the UAE and Masdar under this agreement will help our country to reach our sustainability ambitions."

As per the MoU, the two sides will explore the development and investment in renewable energy projects in the Hashemite Kingdom of Jordan with a production capacity of up to 2 GW. The memorandum also includes exchange of expertise and knowledge in the areas of renewable energy and infrastructure development, including electricity transformation, distribution, and exportation.

Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar, said, "Masdar has been a proud partner of Jordan for nearly 10 years, helping to deliver pioneering renewable energy projects that contribute to the country's sustainable development. With this latest MoU, we hope to increase the impact and depth of our collaboration with Jordan in the area of renewable energy."

Through the MoU, Masdar may significantly increase its renewable energy footprint in Jordan, which currently includes two major renewable energy plants.

In 2015, Masdar delivered the Tafila Wind Farm in Jordan, the first commercial utility-scale wind power project in the Middle East. The 117-megawatt (MW) wind farm increased the country's total power capacity by 3 percent.

Masdar was also the developer and lead partner on the 200 MW Baynouna project, located east of Amman, which is the largest single solar energy project in Jordan. Since 2020, the project has been meeting the annual power needs of approximately 160,000 homes, displacing an estimated 360,000 tonnes of carbon dioxide each year. It generates 563 gigawatt-hours (GWh) of electricity each year, equivalent to 4 percent of the annual energy consumption of Jordan.

About Masdar

Abu Dhabi's renewable energy company Masdar is advancing the commercialization and deployment of renewable energy, sustainable urban development and clean technologies to address global sustainability challenges. Wholly owned by Mubadala Investment Company, the strategic investment company of the Government of Abu Dhabi, our mandate is to help maintain the UAE's leadership in the global energy sector, while supporting the diversification of both its economy and energy sources for the benefit of future generations. Today, Masdar is active in over 40 countries, including the UAE, Jordan, Saudi Arabia, Mauritania, Egypt, Morocco, the UK, the US, Australia, Serbia, Indonesia, Uzbekistan, and many more.

For more information please visit: http://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar

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SOURCE Masdar