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    Energy ministry examines proposals to review power purchase agreements-Kharabsheh-

    July 8, 2022
    oil and gas

    Amman, July 7 (Petra) - Minister of Energy and Mineral Resources, Saleh Kharabsheh, on Thursday said the ministry is currently examining proposals of a number of renewable energy companies, which responded to its invitation to renegotiate prices of electric power generated from their green projects.

    In a statement, he noted the ministry held talks with renewable energy companies operating 29 projects, during which all sides affirmed renegotiation is a measure, which is currently kicked off to reduce electric power costs.

    This step also seeks to achieve justice among all companies operating in the sector and National Electric Power Company (NEPCO) and to achieve an 'attractive and stable investment environment on solid foundations,' he pointed out.

    The ministry received proposals from a number of companies and re-spoke to the remaining firms to submit their ideas to come up with the 'appropriate' decisions, he noted, stressing the importance of responding to the ministry's invitation.

    To date, Kharabsheh lauded contribution of private sector companies and their cooperation with the ministry, NEPCO and sector stakeholders in achieving 'great' successes in the Kingdom's renewable energy field, which covered 26% by the end of 2021 of the total electric energy's consumption.

    In early February, the ministry sent invitations to renewable energy companies to relaunch negotiations on the selling prices of the electric energy generated from their projects, and later asked other firms to submit their proposals.


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