Palestine Investment Fund (PIF) launches the Tubas Solar Power Plant, an $11 million investment to generate eight megawatts of solar power in the northern West Bank.
Dr. Mustafa: The Tubas Solar Power Plant furthers the 'Noor Palestine’ solar energy program – an innovative strategy to strengthen Palestine’s energy security through green power.
The Palestine Investment Fund (PIF) is pleased to announce the launch of the Tubas Solar Power Plant, located in the Tubas governate in the West Bank. The plant is a critical component of 'Noor Palestine,’ Massader’s solar energy program.
Massader, PIF’s impact investment arm for energy and infrastructure, is developing solar parks in Jericho, Tubas, and Jenin for a combined total production capacity of 22 megawatts. The Jericho solar plant is expected to be operational by mid-2018.
To bring solar energy from Tubas to the electricity grid, PIF, represented by Chairman of the Board Dr. Mohammad Mustafa, signed an agreement with the Tubas Electricity Company (TDECO), represented by Chairman of the Board Ahmed Hassan Daraghmeh. The agreement links eight megawatts from the Tubas Solar Power Plant with the Tubas Electricity Company’s distribution network.
The agreement will bring solar energy to families, businesses, farmers, and industrial projects across Tubas, as well as in neighboring towns and villages.
“Green power is critical for Palestine’s energy security,” Dr. Mustafa remarked at the signing event. “Noor Palestine is a practical translation of PIF and Massader’s strategy to strengthen Palestine’s energy security through a mix of green power and traditional sources. Today’s agreement is but the first of many steps towards implementing this strategy.”
Azem Bishara, CEO of Massader, added that “the agreement today ensures electricity will reach beneficiaries in Tubas as soon as the solar plant is ready.” Mr. Bishara explained Massader has completed all the technical studies and designs necessary for the plant’s construction. “We are soliciting bids from companies who specialize in building solar power plants, and are in the process of selecting a contractor to carry out the work.”
The Tubas Power Plant will be built on an area of 100 dunums, with an expected investment volume of $11 million. It will have an annual production capacity of 15 million kilowatt hours, bringing reliable solar power to Tubas families and businesses.
“Noor Palestine’s philosophy is to give Palestinian consumers the keys to their own energy security,” Mr. Bishara said. “Massader has already signed memorandums of understanding with a number of potential beneficiaries in and around Tubas who currently receive electricity from the Tubas Electricity Company. The goal is executed solar power distribution agreements simultaneously in order to maximize potential for beneficiaries.”
The Tubas Solar Power Plant, Mr. Bishara explained, is expected to provide consumers with energy cost savings of 50%. “Taken together, the first three planned solar power stations in Jericho, Tubas, and Jenin will produce 36 megawatts of renewable energy, targeting the public, industrial, and residential sectors.”