This is a best prospect industry sector for this country. Includes a market overview and trade data.
Jordan is one of the leading countries in the Middle East and North Africa (MENA) region in renewable energy (RE) adoption and clean energy growth. Roughly 20 percent of the electricity grid is powered by solar or wind energy. Exceeding this percentage will be challenging for Jordan unless storage solutions are implemented. However, excess supply, due to energy diversification efforts over the past decade and existing long-term gas supply contracts, limits opportunity for renewables over the immediate term, but the market should be monitored for opportunity over the medium term. Jordan imports nearly 100 percent of its oil and gas needs. The Government of Jordan (GOJ) has recently rolled out the country’s National Energy Strategy 2020-2030 that focuses on advancing energy security through improving energy efficiency, energy mix diversification, increasing RE’s share of the entire energy mix, reducing carbon emissions, and bringing down energy costs. Furthermore, the strategy aims at reducing the reliance on (imported) oil fuels in producing electricity. It envisions that by the end of 2030, 48.5 percent of the country’s electricity generation would come from local energy sources (which currently stands at 15 percent) Jordan has long-term potential for additional RE, enjoying an average of 316 sunny days per year, having wind speeds ranging between 7 and 8.5 m/s, and having large desert areas with a low population.
- Renewable Energy (solar energy, wind)
- Renewable energy storage solutions
Jordan has long-term potential as an energy producer of non-conventional and RE. The following are potential opportunities that are either in process or in the pipeline over the medium term:
- Oil and Gas Exploration: Several international companies are conducting oil and gas exploration in Azraq, West Safawi, Jafr, Sirhan, Dead Sea, Rum, Petra and Northern Highlands.
- Developing Risha Gas Fields: Exploration efforts to maximize local gas production and to increase the local generation of electricity from the gas fields are underway.
- Iraq-Jordan Electricity Power Grid: Preparations are now underway to construct the Jordan-Iraq electricity power grid interconnection. The grid interconnection will allow for the export of electricity to Iraq.
- Energy Technologies: Jordan is in the early stages of exploring energy storage solutions, which may also present opportunities for the U.S. energy sector. Technologies and services related to efficiency gains, including smart metering and grid management, may also find opportunities.
- Renewables: As Jordan addresses challenges associated with oversupply of electricity, opportunities for a range of renewable energy solutions may re-emerge over the medium and long term.