French renewable energy companies invited to invest in Kingdom

AMMAN — French companies working in the field of renewable energy have great opportunities to do business in Jordan, French Ambassador Caroline Dumas said Wednesday.

Jordan, which imports about 97 per cent of its energy needs, has strategies and plans to increase the contribution of renewable energy to the overall energy mix, and French companies working in this field can play a role in this regard, the ambassador said."Jordan has the regulatory frameworks for renewable energy projects. It also enjoys a safe and stable environment for investments," the ambassador said at the Franco Jordanian Forum on Renewable Energy that started Wednesday.

The Kingdom, she added, can be a gateway into the region.

Ahmad Armoush, president of the Franco-Jordanian Business Club (CAFRAJ), said the Kingdom is seen as a pioneering country in the region when it comes to implementing renewable energy projects.

"Jordan is rich when it comes to renewable energy and the potential for such projects in the Kingdom is high," Armoush said at the event, where representatives of several French and local companies working in renewable energy took part.

Jordan has one of the highest annual daily averages of solar irradiance in the world with an estimated 330 days of sunshine per year, while wind speeds in the country are as high as 7.5 metres per second and up to 11.5 metres per second in hilly areas.

The Kingdom is working on a series of renewable energy projects that will increase the contribution of local energy resources to the energy grid from the current 3 per cent to 40 per cent by 2020.

Stressing that the government will go ahead with renewable energy projects, Lina Shbeeb, transport minister and acting minister of energy and mineral resources, said energy security is crucial for advancing the country's economy.

Shbeeb said Jordan's energy bill in 2013 was JD4.08 billion, representing about 17 per cent of the country's gross domestic product.

The minister also reviewed several deals and memoranda of understanding signed with several local and international companies in the field of solar and wind energy.

A delegation of 12 French companies working in the field of renewable energy is attending the forum, along with the French Syndicate for Renewable Energy (SER) and the Mediterranean Institute for Renewable Energy. 

The forum, which concludes on Thursday, is organised by the
CAFRAJ in cooperation with the French embassy, the Jordan Investment Board, SER and the French Agency for Development.