The World Bank has agreed to give $70 million to Jordan to help finance a $600 million project to create a solar power plant with a total generation capacity of 100 megawatts, according to reports emanating from the region.
Jordan is seeking other resources to finance the rest of the project, the official news agency reported, citing Minister of Energy and Mineral Resources Alaa Batayneh.
Jordan, with one of the smallest economies in the Middle East, imports almost all of its oil and relies on foreign investment and grants to support its budget and current-account deficits. The government has incurred losses by switching power plants to more expensive fuels such as diesel after a natural-gas pipeline from Egypt’s Sinai region has been repeatedly attacked by saboteurs since last year.
“Such announcements reinforce the need for a dedicated solar event in the region” says Nick Thomson, exhibition director of GulfSol 2013, the first solely focused solar event for the region, scheduled for 3-5 September, 2013 at the Dubai World Trade Centre, UAE.
“The fact that right across MENA, all countries and states are being awakened to the true potential of solar energy is of huge benefit at a time when many other solar markets are in decline. The MENA region represents one of the most exciting growth areas for technology in the next five to ten years, and GulfSol 2013 will put suppliers right at the epicentre of this dynamic expansion” he adds.
GulfSol 2013 is the only truly dedicated and focused, new exhibition for the MENA solar industry, and takes place from 3-5 September 2013 at the Dubai World Trade Centre. For more information and to reserve your exhibition space, contact the team directly.