Jordan will increase its solar energy target by more than 65 per cent by 2020 with 500 megawatts expected to come online by the end of next year, according to the country’s energy minister.
The kingdom had originally targeted 600MW of solar energy by 2020, but now that figure has been raised as a result of demand. "By the end of next year we will have 500MW and a target of 1,000MW by 2020," said Ibrahim Saif, the energy minister.
Jordan is moving ahead with projects as the country faces more pressure to ramp up renewable energy plans to help decrease its dependence on energy imports, which cost about US$3.6 billion, or almost 14 per cent of its GDP.
The increase is expected to create opportunities for contractors and suppliers from the UAE and elsewhere.
Abu Dhabi-based Enviromena Power Systems expects to add 102MW to the grid in Jordan by the second quarter of next year.
“The value proposition of solar in Jordan today is so compelling that 1,000MW is not an unreasonable or unachievable target for the government to have installed by 2020,” said Enviromena’s chief executive Sami Khoreibi.
The Norwegian solar panel manufacturer REC said that Jordan was a key area of growth for the company as it is just entering the market. “We believe that for commercial solar rooftops — mixing Dubai and Jordan — we will see around 5-8MW installations this year, which is about 10-12 installations,” said Luc Grare, the senior vice president of sales and marketing.
The Swiss company ABB announced yesterday that it had secured a contract with Spain’s Martifer Solar to help supply 50MW of solar capacity.
The deal covers four solar plants, located near the cities of Ma’an and Mafraq.
The European company will help to design the plants that are scheduled for completion in the next three months.
“These innovative and technologically advanced solar projects are a big first step towards boosting Jordan’s energy security and reducing its reliance on imported oil and gas,” said Ahmad Alhussein, the local manager of Discrete Automation and Motion, in a statement from ABB.
This week Ahmad Belhoul, the chief executive of Masdar, said that Jordan was an important market for the Abu Dhabi-based clean energy company and it would continue to explore various projects in the country.
The master strategy for Jordan’s energy sector includes a target of 1,800MW, or 10 per cent of the country’s energy supply, to come from renewable sources in 2020.
lgraves@thenational.ae
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
The Word for Woman is Wilderness
Abi Andrews, Serpent’s Tail
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
UAE players with central contracts
Rohan Mustafa, Ashfaq Ahmed, Chirag Suri, Rameez Shahzad, Shaiman Anwar, Adnan Mufti, Mohammed Usman, Ghulam Shabbir, Ahmed Raza, Qadeer Ahmed, Amir Hayat, Mohammed Naveed and Imran Haider.
More coverage from the Future Forum
Profile
Co-founders of the company: Vilhelm Hedberg and Ravi Bhusari
Launch year: In 2016 ekar launched and signed an agreement with Etihad Airways in Abu Dhabi. In January 2017 ekar launched in Dubai in a partnership with the RTA.
Number of employees: Over 50
Financing stage: Series B currently being finalised
Investors: Series A - Audacia Capital
Sector of operation: Transport
Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
