The European Bank for Reconstruction and Development (EBRD) has signed a memorandum of understanding (MoU) with the Government of Jordan to support the country’s transition toward a cleaner and more sustainable energy system. The agreement involves Jordan’s Ministry of Planning and International Cooperation, the Ministry of Energy and Mineral Resources, and the National Electric Power Company (NEPCO). The MoU creates a long-term framework for cooperation aimed at strengthening Jordan’s energy security while accelerating its shift toward low-carbon energy sources.

A key focus of the partnership is expanding renewable energy capacity, developing battery energy storage systems (BESS), improving the national electricity transmission network, and enhancing the financial and operational stability of NEPCO. The agreement also supports Jordan’s broader ambitions in green hydrogen development, positioning the country for future clean energy exports and innovation. Under this framework, the EBRD will assist in preparing and implementing tenders for renewable energy projects and battery storage systems.

It will also support reforms designed to improve the financial sustainability of the electricity sector, ensuring better efficiency and long-term stability. In addition, the Bank will help finance and guide investments aimed at modernising Jordan’s transmission infrastructure, which is essential for integrating more renewable energy into the national grid. A significant part of the cooperation also focuses on green hydrogen. The EBRD will provide technical assistance to help develop Jordan’s plans to position Aqaba as a regional hub for green hydrogen production. The Bank is also considering future financing opportunities in this sector, which is expected to play an important role in global clean energy markets.

This agreement supports Jordan’s national goal of generating 50% of its energy from renewable sources by 2033. It reflects the country’s commitment to reducing reliance on fossil fuels while increasing the share of clean and sustainable energy in its power mix. The MoU was signed by Matteo Patrone, Vice President for Banking at the EBRD, Zeina Toukan, Jordan’s 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 its operations in Jordan in 2012, the EBRD has invested more than €2.2 billion across 84 projects. A significant portion of this investment, around 73%, has been directed toward the private sector. These investments include support for the banking sector through loans for micro, small, and medium-sized enterprises, trade finance facilities, and subordinated debt instruments, all aimed at strengthening economic development and private-sector growth in the country.