Palestine Investment Fund to provide US$35 million for rooftop PV portfolio

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
PIF Chairman Dr. Mohammad Mustafa with Palestinian Ministry of Education and Higher Education Minister Sabri Sidem. Image: PIF

The Palestine Investment Fund (PIF) and the Palestinian Ministry of Education and Higher Education (MoEHE) have signed off on an agreement to install solar power systems on the rooftops of 500 public schools.

The four-year investment, worth US$35 million, will lead to a total generation capacity of 35MW.

The agreement will help the Palestinian government’s efforts to mobilize financial support for the education sector, per Palestinian Prime Minister Rami Hamdalla.

PIF Chairman Dr. Mohammad Mustafa noted: “Noor Palestine is a program to equip Palestine with solar power through investments in solar parks and rooftop generation systems. Solar parks are currently under development in Jericho, as well as other sites, for a total generation capacity of 25MW. Taken together with the school program, this is a generation capacity of 60MW, and a US$65 million investment.”

MoEHE minister Sabri Sidem added: “The choice of the Palestine Investment Fund as developer, with cooperation with the Palestinian Energy Authority, gives us confidence we will reach our green energy goals. The agreement is in line with both the Renewable Energy and Energy Efficiency Act and the General Renewable Energy Strategy. The Palestinian government is committed to developing alternative sources of energy, strengthening energy security, and encouraging environmental protection.”

Read Next

March 25, 2019
Saudi Arabia’s Public Investment Fund and partners to deliver directly 2GW of the total pipeline, with plans to host a public tender for 600MW.
October 2, 2018
Saudi Arabia’s sovereign wealth fund has rejected media reports that a multi-billion dollar solar programme has been halted.
October 25, 2017
Saudi Arabia has announced a US$500 billion investment for an industrial and business zone spanning 26,000 square km (10,230 square miles) over three countries, to be fully powered by solar energy and wind power.
October 25, 2017
Private equity fund SoftBank Vision Fund has officially signed a memorandum of understanding (MOU) with Saudi Arabia’s Public Investment Fund (PIF) to develop 3GW of PV and energy storage capacity within Saudi Arabia.
July 25, 2016
The Palestine Energy Ministry has granted licensing and permits for its first large-scale solar power plant near the city of Hebron, according to the two companies involved in the development.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal
Solar Media Events
April 25, 2022
Berlin, Germany