Jordan leads the way in the Middle East PV industry
With over 400 companies operating in the local PV industry, Jordan is leading the way in the development of a regional PV market. Projects from Round I are soon to get financial closure, while the preferred bidders for Round II will be announced shortly.
On the last year Jordan has proven to be a pioneer in solar PV in the Middle East. With the opening of two rounds of utility- scale PV projects tenders, Jordan is the first country in the Arab region to develop solar PV Independent Power Projects (IPPs).
By starting early with PV development, Jordan will ensure key expertise that later on it will be able to export to neighbouring markets. “Saudi Arabia moving forward with theor 40GW program and rest of region can only be positive for Jordan; where local players have experience and references, those countries become attractive export markets, whether for project development, O&M or EPC,” explained Ennis Rimawi, Managing Director of Catalyst Private Equity, in a recent webinar organized by PV Insider and the Middle East Solar Industry Association.
Rimawi debated the current opportunities in solar PV in Jordan along with Maher Matalka, Chairman of EDAMA, and Hanna Zaghloul, CEO at Kawar Energy. The webinar “Outlook for solar PV in Jordan” highlighted the commitment of multilateral banks in supporting developers in Round One, given the insufficient capacity of local banks to carry large investment and their lack of experience in the renewable sector.
To listen to the webinar “Outlook for solar PV in Jordan” visit:
Or get in touch with Brandon Páramo at Brandon@pv-insider.com