Opportunity to invest in wind energy
in Jordan is more promising now
Jun 15, 2007 - McClatchy-Tribune Regional News
- Kahlid Neimat Jordan Times, Amman
The opportunity to invest in wind energy in the Kingdom
is more promising now than before, the World Bank
said in a statement issued on its website this past
As such, the bank said it would provide the government
with a new loan of $92.6 million to implement a renewable
energy project. The objective of this project is to
"create wind energy market in the Kingdom", the bank
The Global Environment Fund (GEF) would support
the project with $6.35million, according to the bank.
The fund was established in 1990 to provide financing
and management support to companies that contribute
to environmental quality, efficient use of energy,
human health and the sustainable management of natural
The statement explained that the project
constitutes four aspects. "Development" is based on
a preliminary feasibility study showing that "such
a project now has a promising opportunity".
to the statement, the project should be implemented
on the build-operate-transfer (BOT) basis.
in the next stage, the project would need support
from the government to take off successfully. It would
not be commercially feasible, the statement indicated.
To overcome this difficulty, the bank encourages the
government to utilise the renewable energy fund in
order to support the wind-energy project in the Kingdom,
as a another option rather than increasing the tariff.
"Technical help" would overcome the obstacles confronting
Jordan's wind-energy project, the statement said.
Such barriers would include the inappropriate tariff,
low institutional capabilities and lacking information
on wind-energy sources, beside the high risk in financing
Hence, the bank calls on the government
to develop a legal framework. It would work on encouraging
academic institutions to focus more on renewable energy
in general and on the wind energy in particular.
bank also aims to increase the renewable energy contribution
in the nation's energy portfolio. This project would
partially achieve the government's goal of making
the renewable energy share in the country's energy
portfolio hit 3 per cent in the year 2015.