(MENAFN- Jordan News Agency) Amman, Sept.27 (Petra)-Jordan and Iraq have signed a power contract on Sunday, to grid the electricity network and sell electric power mutually.
According to the power contract, which was concluded remotely, Jordan will provide the Iraqi side with 1000 gigawatt hours annually during the project's first phase, after completing the network grid between the two countries.
The project's second phase allows the two sides to increase the capacity of electric energy exchange, read the contract.
The contract signing, attended by Minister of Energy and Mineral Resources, Hala Zawati, and the Iraqi Minister of Electricity, Majed Amara, was inked by General Director of the National Electric Power Company (NEPCO), Amjad Rawashdeh and Director General of the Iraqi General Electric Power Transmission Company, Barak Saad Nour.
In press statements following the signing ceremony, Zawati stressed the importance of the Jordanian-Iraqi electric interconnection in enhancing bilateral cooperation within the framework of Jordan's aspiration to grid with neighboring countries for the purpose of exchanging electric energy.
These power projects will contribute to stability of electric systems and serve plans aimed to establish a common Arab energy market, which in turn will work to enhance pan-Arab economic integration, according to the minister.
The minister also stressed the importance of the power contract, which is consistent with goals of the comprehensive strategy of Jordan's energy sector for 2020-2030, aims to make the country a regional center to exchange energy in all its forms, especially after a memorandum of understanding for the electric interconnection was signed with Saudi Arabia, which constitutes the start of the comprehensive pan-Arab electric interconnection projects.
Lauding the "existing" cooperation between Jordan and Iraq in the energy field, she stressed the importance of completing the rest of the joint energy cooperation projects for their role in serving the common interests.
For his part, Rawashdeh said the contract allows the National Electric Power Company (NEPCO) to export the electric energy available in the Jordanian electrical system after completing the joint electric interconnection in its first phase after about 26 months.
Rawashdeh indicated that the interconnection project is in its second phase, which will be completed after finishing the necessary technical studies, and installing necessary infrastructure for the electric networks in the two countries, will allow the two sides to increase the capacity of electric energy exchange, in a manner that ensures the achievement of standards of electric energy economics and exchange, in accordance with the best international practices in place.
He said: "This project would reduce the capital costs necessary to invest in future power plants and raise the capacity factor of the existing electric stations, in a way that serves the common interests and forms the nucleus of additional projects to grid the region's countries."
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