Amman, Feb 20 (Petra) -- The Ministry of Planning and International Cooperation signed loan and guarantee agreements worth $56.5 million (approximately €54.7 million) with the European Bank for Reconstruction and Development (EBRD) Thursday, supporting the North Green Station and Power Transmission Lines Project.

The agreements were signed by National Electric Power Company (NEPCO) Director General Sufian Al-Batayneh and Finance Minister Abdul Hakim Al-Shbli, in the presence of Planning Minister Zeina Toukan, Energy Minister Saleh Kharabsheh, and the EU delegation in Amman.

EBRD Regional Director for the Eastern Mediterranean Gretchen Biery signed on behalf of the bank.

The project includes constructing a new substation in northern Jordan to enhance the power grid's capacity for current and future renewable energy projects, strengthen the high-voltage network, and increase operational flexibility of generation units in the region.

It also includes building four overhead transmission lines connecting to existing substations in Samra, West Amman, Al-Hassan Industrial Estate, and Jerash.

A second agreement provides an additional €12.4 million investment grant and a €2.2 million technical assistance grant to support project implementation and professional training in the electricity sector.

According to the Ministry of Planning, the new station will enhance energy security through local green energy sources and improve power flow within the national grid, while facilitating network connections with neighboring countries.

"We are proud to support NEPCO, in cooperation with the European Union, in developing electricity transmission infrastructure and strengthening Jordan's energy sector, contributing to regional interconnection and supporting the kingdom's green transition in line with its Economic Modernization Vision," Biery said.

EBRD's cumulative investment portfolio in Jordan has reached approximately €2.3 billion since 2012, with 55 percent directed to private sector financing across various sectors including renewable energy, pharmaceutical industries, water, municipal infrastructure, solid waste, transport, tourism, and local banks.

The ministers praised EBRD's support for this important project, which aligns with Jordan's Economic Modernization Vision priorities and supports ambitious renewable energy usage targets for 2030.

//Petra// AA

20/02/2025 13:23:00