Jordan has witnessed a 10% decline in the number of applications for licenses related to electricity and renewable energy during the first nine months of 2023 as compared to the last year.
Data released by the Jordan Energy and Minerals Authority discloses that there were 257 applications for licenses in various fields of electricity and renewable energy, down from 285 during the same period in the previous year.
As per the Authority, these licenses are granted to companies engaged in generating electrical energy using renewable energy sources systems, primarily for projects exceeding 1 megawatt in capacity.
The Jordan Energy and Minerals Authority conducts inspection programs to ensure compliance with the law, regulations, and licensing requirements. It is reported that despite the overall decrease in license applications, there was a slight increase in September, with 48 license requests compared to 33 in the same month the previous year. These requests include permits and licenses for charging stations and individuals, whether for initial issuance or renewal.
The decline in renewable energy license applications is attributed to factors such as regulatory challenges, economic uncertainties, or a shift in investment priorities. However, the increase in license requests in September indicates a potential rebound in interest and suggests that the market may be stabilising.
It may be said that as Jordan aims to increase its renewable energy capacity and reduce dependency on fossil fuels, the nation needs to take measures to boost the growth of the sector which includes streamlining regulatory processes, providing incentives for renewable energy projects, and fostering a favorable investment climate.
These steps, as per experts, can attract more companies and investors to participate in the country’s renewable energy transition, ultimately contributing to a greener and more sustainable future.