Amman: The Jordan Renewable Energy and Energy Efficiency Fund (JREEEF) at the Ministry of Energy and Mineral Resources has entered into strategic agreements with Cairo Amman Bank and Jordan Islamic Bank to initiate a new phase of the household support program for solar cell and solar heater installations for the years 2024-2025. This initiative includes a substantial 30 percent grant on all systems.
According to Jordan News Agency, the agreements were formalized by the Minister of Energy and Mineral Resources, Saleh Kharabsheh, together with the CEOs of Cairo Amman Bank, Kamal Bakri, and Jordan Islamic Bank, Hussein Saifan. Kharabsheh underscored the importance of this collaboration in alleviating the financial burden on citizens through innovative energy solutions, while also contributing to the ministry’s objective of enhancing reliance on local energy sources. The banks play a pivotal role in this partnership by providing 70 percent financing for the systems, with flexible installment plans that align wit
h the Economic Modernization Vision aimed at improving living standards.
The minister highlighted the accomplishments of the previous phase of the program, during which 3,000 solar heaters and 2,000 solar cell systems were installed. This phase was executed at a total cost of JD 6.5 million, with a 30 percent contribution from the Energy Fund. The new phase, which was launched in September, targets the installation of 4,000 solar cell systems at a cost of JD 8.5 million and 5,000 solar heaters at JD 3 million by the end of the year. The goal is to ensure equitable distribution across all regions of Jordan.
CEOs Bakri and Saifan expressed their banks’ dedication to supporting initiatives that not only lower electricity costs for citizens but also simplify the application process. Rasmi Hamza, Executive Director of the Renewable Energy Fund, encouraged citizens to utilize the application guide available on the ministry and fund websites to take advantage of the program’s offerings. He emphasized the program’s
role in invigorating the renewable energy market, safeguarding jobs, creating new employment opportunities, and boosting sector investments.
Since its launch in 2015, the household sector program has significantly contributed to sustainable development, aligning with Jordan’s Economic Modernization Vision 2030. This initiative supports the country’s shift towards renewable energy, reduces emissions, and helps meet international environmental commitments.