A total of 34 companies have qualified for the third round of Jordan’s renewable energy projects, Minister of Energy Ibrahim Saif said last month.

The companies were chosen from a list of 70 domestic and international firms that expressed an interest in the latest tender round, which includes four solar and two wind projects, Saif told Venture on the sidelines of the World Economic Forum. “We are very glad that the demand reflects the trust and confidence of the private sector and business community in the measures that we have taken in the energy sector and in the Kingdom’s overall business environment.”

He said the companies were attracted by lucrative government incentives, including exempting equipment from custom duties, exemptions from tax income, and facilitating the acquisition of lands. “These incentives have been very conducive … and we have a huge number of companies who are interested in investing in Jordan. I think the outcome is that we are spearheading the whole region in terms of renewable energy.”

Saif expects prices in the third round to be lower than the previous two partly due to falling renewable energy technology costs. “We are observing the international market and expect to have the lowest price we have ever had in terms of power generation from renewable sources,” he added.

Saif said it was too early to discuss the prospect of a fourth round of renewable energy projects. But he did confirm that his ministry had

tendered the Green Corridor project, which is expected to increase the grid’s capacity and take 18 months to two years to come on line.