Jordan’s new electricity law encourages investment in energy storage

The new law aims to improve the efficiency and reliability of Jordan’s electricity infrastructure and introduces the concept of energy storage in the country’s legislation for the first time.

jordan.jpg
ess-news.com

Jordan has adopted a new electricity law which replaces the temporary legislation enacted in 2002 and encourages investment in electricity storage and green hydrogen projects under the public-private partership (PPP) model.

Minister of Energy and Mineral Resources, Saleh Kharabsheh, has said that the key benefits that distinguish the new law from the previous temporary regulations include provisions for licensed entities involved in electricity transmission, generation, or distribution to establish and operate energy storage facilities.

The minister also noted that the law allows private individuals to construct and operate their own energy storage stations for personal use, which is in turn expected to bolster grid security and encourage sustainable energy practices.

Furthermore, Kharabsheh said the new law will support green hydrogen projects by allowing self-generation and independent transmission of electricity without reliance on the national grid.

The new law is hailed as a major step towards fundamental changes in the Jordanian electricity sector, promoting competition and encouraging private sector investement with a focus on renewable energy.

Today, Jordan is one of the biggest energy importers in the world, with over 90% of the nation’s energy supply sourced abroad. According to the data from the International Energy Agency (IEA), in 2022, the country sourced over 47% of its total energy supply from oil and more than 41% from natural gas. Renewables accounted for 7.7% of the total energy supply and a staggering 74% of domestic energy production.

Economy

Vietnam's automobile industry to face multiple challenges in 2025
Economy

Vietnam's automobile industry to face multiple challenges in 2025

The Ministry of Industry and Trade has forecast that Vietnam's automobile market could grow by approximately 12% in 2025, with sales expected to reach 600,000 units. However, the influx of completely built-up (CBU) imported vehicles is likely to exert significant pressure on the domestic automobile industry.

2025 - Year of acceleration, breakthroughs
Economy

2025 - Year of acceleration, breakthroughs

Prime Minister Pham Minh Chinh has instructed ministries, agencies, and local authorities to drastically and effectively implement three strategic breakthroughs, six key tasks, and 12 primary solutions, striving for double-digit growth in 2025, set to be the year of acceleration and breakthroughs, and laying the foundation for the 2026-2030 socio-economic development plan.

PVcomBank: Delivering outstanding customer experiences
Economy

PVcomBank: Delivering outstanding customer experiences

Founded in 2013, Vietnam Public Commercial Joint Stock Bank (PVcomBank) is the result of a merger between Petro Vietnam Finance Joint Stock Corporation (PVFC) and Western Commercial Joint Stock Bank (WesternBank). Over the years, PVcomBank has expanded to become the fifth-largest digital bank in Vietnam. Thanks to its commitment to deliver ‘Banking for Everyone’, it now serves over three million customers across various segments in Retail, SME, commercial and corporate.

Vietnamese Business Association in UK sets 2025 agenda
Economy

Vietnamese Business Association in UK sets 2025 agenda

The Vietnamese Business Association in the UK (VBUK) has announced plans to reshape the landscape of Vietnam-UK trade relations, focusing on driving business community forward, fostering its unity and strengthening connections with their Vietnamese partners both at home and abroad.