Fund Activates JD25 Million for Renewable Energy Projects
The Jordan Renewable Energy and Energy Efficiency Fund (JREEEF) said it has given the green light for the disbursement of JD25 million to provide financial and technical assistance to sustainable energy projects through to 2018.
The fund, which is a branch of the Ministry of Energy and Mineral Resources, also expects additional funding to be forthcoming from international donors, including JD13.2 million from the European Union and JD10.8 million from Canada.
The aim is to help households, SMEs, the tourism sector, the health sector, public buildings, and facilities such as schools — with each program having different eligibility criteria.
The fund commenced work in June with the launch of a tender to fit homes with photovoltaic (PV) systems. Eight agreements were subsequently signed to provide 600 homes in northern Jordan with PV systems.
Further energy saving technology to be installed in households will include up to 200,000 solar water heaters, up to 50,000 solar PV panels, and up to 500,000 LED lamps — to be co-funded by the households and the fund, and to be implemented through community based organizations.
According to JREEEF Executive Director Rasmi Hamzeh, the fund will not only help save money for energy consumers but also for the government by targeting households currently receiving government electricity subsidies. “Renewable energy is not just about energy, it’s also about social economic issues, development, as well as sustainability,” said Hamzeh. “It’s going to save the Jordanian government and the people money as well.”
Other projects underway as part of the initiative include the distribution of 17,000 LED lamps donated by IKEA to tents and caravans in the Zaatari refugee camp in cooperation with the UNHCR. A further 55,000 LED lamps will also be distributed in Jordanian villages impacted by the influx of refugees.
Hamzeh said that as the initiative progresses, his organization would continue seeking funds from international donors. “JREEEF is the right umbrella for donors and international funded projects to cooperate with in order to implement their projects to support Jordan with sustainability issues,” he said.
Originally published at www.venturemagazine.me on August 13, 2015.