The UAE and Jordan are setting a precedent in climate action and renewable energy cooperation.
Dwelling on the trade partnership and investments in renewable energy between the two nations, Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, emphasised the robust trade and investment partnership between the UAE and Jordan, fostered by the mutual interest of both countries’ leadership. In a statement, he said Jordan has become a regional investment hub of choice for the UAE’s direct investments, amounting to $4 billion.
This accounts for 14 per cent of the total foreign direct investments received by the Kingdom, making the UAE the largest global investor in Jordan, surpassing the United Kingdom and Kuwait whose investments constitute 8.2 per cent and 7.2 per cent respectively.
He disclosed that non-oil trade between the two countries reached $4.5 billion in 2022, a 47.4 per cent growth compared to 2021. “The UAE’s non-oil exports to Jordan amounted to $1.6 billion in 2022, while the value of re-exports from the country amounted to $2.4 billion, compared to $513 million worth of UAE imports from Jordan,” he said.
“For over a decade, the two countries have worked together to promote clean and renewable energy, accelerate the transition to a sustainable energy sector, and achieve the Sustainable Development Goals,” he said.
Further, the statement highlights the UAE-Jordan climate action, which includes qualitative projects that contribute to enhancing the transformation of the energy sector and improving the efficiency of the use of environmental resources, in addition to implementing clean energy technology projects, which could contribute to reducing carbon emissions and greenhouse gases.
Dwelling on the UAE’s preparations to host the 28th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) at the end of November, the statement said that the Hashemite Kingdom of Jordan is seeking to prepare for participation in the conference by continuing to work on implementing climate commitments since the COP27 until COP28, and as the Kingdom aims to highlight the participation of young people in climate action.
The two countries signed a declaration of intent in 2021 aimed at enhancing the production of clean electricity and desalination of water.
It may be noted that the UAE and Jordan share visions and aspirations for the transition to a green and sustainable economy through accelerating the transition to clean energy and improvising the role of renewable energy.
The Abu Dhabi Fund for Development contributed to financing clean energy projects in Jordan worth Dhs1.4 billion in 2021, to finance the liquefied natural gas port project in the city of Aqaba and the Sheikh Zayed Solar Power Complex to generate 227 GWh of solar power annually over 20 years, enough to illuminate about 50,000 homes.
Masdar launched the Tafilah wind power plant project last year with a MoU signed between Masdar and the Jordanian Ministry of Energy and Mineral Resources to explore opportunities to develop renewable energy projects with a total production capacity of up to 2 gigawatts.
As per the statement, Jordan is one of the leading countries in the field of renewable energy in the region, where it produces 29 per cent of electricity from renewable sources, aims to increase this percentage to 50 per cent by 2030, aspiring to be a regional hub for the production of green energy.