The Palestine Investment Fund (PIF) and the Palestinian Ministry of Education and Higher Education (MoEHE) signed an agreement to install solar power systems on the rooftops of 500 public schools. The $35 million, four-year investment will wield a total generation capacity of 35 MW.
Solar parks are currently under development in Jericho (22 MW), as well as other sites, for a total generation capacity of 25 MW. The Jericho solar plant is expected to be operational by mid-2018. Together with the school program, this is a generation capacity of 60 MW, and a $65 million investment.
The Noor Palestine program is introducing solar and renewable energy in a variety of critical sectors and industries in Palestine. Led by Massader, PIF’s impact investment arm for energy and infrastructure, Noor Palestine seeks to reduce dependence on energy imports and strengthen Palestine’s energy security.
In December, the Palestine Investment Fund launched the 8 MW »Tubas« solar power plant, an $11 million investment to be built in the northern West Bank. The expected annual power production of 15 million kWh will be delivered to Tubas Electricity Company’s distribution network.
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