Latest news with #NEPCO
Zawya
3 days ago
- Business
- Zawya
Jordan's domestic revenues reach $5.6bln in first five months of 2025
AMMAN — Jordan's domestic revenues rose by JD224.1 million during the first five months of 2025, reaching JD4.067 billion, up from JD3.843 billion during the same period in 2024, according to public finance figures released on Tuesday. The increase reflects continued efforts to enhance revenue collection and improve fiscal performance amid regional and global economic challenges, the Jordan News Agency, Petra, reported. As of the end of May 2025, the Kingdom's public debt stood at JD35.8 billion, representing 92.7 per cent of GDP. The temporary rise in debt was attributed to financing the budget deficit, covering the operational losses of the National Electric Power Company (NEPCO) and the Water Authority, and securing concessional loans from friendly countries. During March and April, the government obtained a total of $1 billion in soft loans and issued Islamic sukuk at a competitive interest rate of 4.8 per cent, aiming to reduce debt servicing costs, ease fiscal pressures, and support capital development projects. The $1 billion was deposited with the Central Bank of Jordan and included in the public debt balance as of the end of May. In June, the government repaid $1 billion in Eurobonds without issuing new bonds, thereby avoiding higher interest rates that could have reached up to 9 per cent amid current global and regional financial conditions. The public debt is expected to decline to approximately JD35.3 billion by the end of June. The debt-to-GDP ratio, excluding bonds held by the Social Security Investment Fund, is projected to fall to around 91 per cent, reflecting a gradual improvement in Jordan's fiscal position. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Zawya
5 days ago
- Business
- Zawya
Jordan: Energy minister inspects Rehab power plant
AMMAN — Minister of Energy and Mineral Resources Saleh Kharabsheh on Saturday conducted an inspection visit to the Rehab Power Plant, underscoring the importance of ensuring the power system's readiness to meet electricity demand during the summer season. The visit is part of ongoing efforts to monitor the preparedness of the national electrical system and review the plant's operational plans, the Jordan News Agency, Petra, reported. Kharabsheh commended the management and staff of the company for their efforts and expressed appreciation for their high level of readiness to meet consumer needs efficiently and reliably. The minister and his accompanying delegation were received by Deputy Chairman of the Board Abdel Fattah Dardakeh, General Manager Sami Zwatten, and senior members of the plant's management team. During the visit, Zwatten briefed the minister on the plant's operational readiness following comprehensive maintenance work carried out earlier in 2025. He highlighted the measures taken to enhance efficiency and ensure the delivery of electricity at optimal quality. The plant currently contributes 270 megawatts to the national grid and is operated by a team of qualified and trained personnel, he said. Kharabsheh was accompanied by National Electric Power Company (NEPCO) Director General Sufian Batayneh during a tour of the facility's monitoring and control centre, which manages the plant's operations in real time. Rehab Power Plant Director Mohammad Shayyab provided an overview of the plant's operational protocols and outlined its role in ensuring energy continuity during interruptions in the natural gas supply, noting that the plant switches to diesel fuel as an alternative. He also reviewed the plant's emergency preparedness procedures. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Iraqi News
03-07-2025
- Business
- Iraqi News
Jordan to increase power supply to Iraq to 150 megawatts
Baghdad ( – Jordan has announced that a project to increase power supplies to Iraq will be completed in August as part of the second phase of the electrical interconnection project between the two countries. Iraq, which is now experiencing a severe power shortage, acquired around 40 megawatts in the first quarter of 2024 after completing the project's initial phase. Director General of the National Electric Power Company (NEPCO) Sufyan Batayneh revealed that 99 percent of the project within Iraq's borders is completed, and the facilities will be completely operational by August, according to Zawya News. Jordan is expected to supply 150 megawatts of electricity to Iraq by the end of August, according to Batayneh. The first phase of the project went into operation in the first quarter of 2024, linking the Risha power plant in Jordan and the Al-Rutba power station in Iraq at a voltage of 132 kilovolts. Iraq and Jordan signed an agreement in February 2024 in the Jordanian capital, Amman, to provide Iraq with 40 megawatts of electricity in the first phase. In the medium run, further connecting phases may raise Jordan's electricity supply to Iraq to 500 megawatts.
Zawya
03-07-2025
- Business
- Zawya
Jordan to quadruple power supply to Iraq in August
Jordan has confirmed that a project to nearly quadruple power supplies to nearby Iraq will be ready in August within Phase 2 of their electricity grid connection. Iraq, which is suffering from a persistent power shortage, was buying around 40 MW in the first quarter of 2024 when phase 1 of the project was finished. Almost 99 percent of the project inside Iraq's territory is complete and the facilities will be fully ready in August, according to a top executive of of Jordan's National Electric Power Company (NEPCO). 'The plan is moving as per schedule….at the end of August, we will be able to supply 150 MW of electricity to Iraq…supplies could be gradually increased to 500 MW,' said Sufian Al-Batayneh, General Manager of NEPCO. Writing in the Company's 2024 report published on its website this week, Al-Batayheh said the link-up project with Iraq was launched in 2022 with the aim of tackling the Arab country's power shortages caused by lack of maintenance and gas supply from Iran. He did not mention when the three-phase project would be completed but officials said in 2024 that Jordan could supply Iraq with 500 MW within three years. Jordan is also planning to connect its power network with that of Saudi Arabia for exchange of power supplies in emergency and securing electricity for remote border areas in both countries. 'We have completed technical and economic studies for the connection with Saudi Arabia…we are now preparing the agreements that will be signed between the two countries for the launching of this strategic project,' Al-Batayneh said. Locked in a post-conflict reconstruction of its facilities, Iraq also receives electricity from Turkey and is completing an interconnection with the six-nation Gulf Cooperation Council (GCC) through neighboring Kuwait. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
26-06-2025
- Business
- Zawya
Jordan: Natural gas resumes after disruption caused by Iran-Israel war
AMMAN — A source at the National Electric Power Company (NEPCO) on Wednesday announced the resumption of natural gas supplies used for electricity generation. The source said that the flow of gas resumed after a temporary suspension caused by recent regional tensions between Israel and Iran, the Jordan News Agency, Petra, reported. The disruption began on June 17, following the precautionary shutdown of key Eastern Mediterranean gas fields amid fears of a broader regional escalation after direct exchanges of fire between Iran and Israel. As a result, gas exports to Jordan and Egypt were suspended. A ceasefire between the two countries was later announced on June 23 by US President Donald Trump. Despite the suspension of Jordan's primary source of electricity generation, the Kingdom's power supply remained stable and uninterrupted, Minister of Energy and Mineral Resources Saleh Kharabsheh recently said. The minister said the ministry had swiftly activated emergency protocols, shifting to alternative fuels such as diesel and heavy fuel oil to maintain power generation. Kharabsheh emphasised that Jordanian power plants are equipped to switch to these fuels efficiently, ensuring grid stability even under pressure. While this ensured a continuous power supply, officials noted that reliance on more expensive fuels has increased pressure on the national budget. Energy experts have confirmed that Jordan also maintains strategic fuel reserves and a floating LNG storage unit in Aqaba, which provides a critical short-term buffer.
