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35 Megawatts of electricity, around 30 USD Millions, through schools and higher education institutions rooftops project

Ramallah, IPIEA October 17th 2021, Endorsement of the Incentive contract Package by H.E. Khaled OSAILY Chairperson of IPIEA and Minister of National Economy, H.E. Prof. Marwan AWARTANI Minister of Education and H.E. Mohamed MUSTAFA chairperson of Palestine Investment Fund on launching the Incentive contract Package related to enabling the schools and higher education Rooftop project to generate 35 Megawatts within 4 years to assure reducing the targeted establishments power consumption hence downsize the burden on the general budget, and the rest of Power generated will be evacuated to the local electricity network.

Given that the project will target around 500 rooftops out of the available 2,800 available school and gross investment expected to reach around 30 USD millions, and this Incentive contract package introduce new investment opportunity for public private partnerships and here we are calling private sector to have the benefit from this available opportunity.

And its worth to mention that the Incentive contract packages is a competitive tool provided by the encouragement of investment in Palestine law as this contracts can guarantee flexibility to provide incentives to specific sector of geographic location or strategic project to work as enabler to increase performance, production, export, generate jobs, transfer technology or implement international criteria’s to maintain the environment or generate power from alternative solutions.

This contract is in line with government of Palestine strategies while IPIEA play a role to facilitate providing regulations to access to finance and incentives toward successful business that generate profit in line with IPIEA BoD chaired by H.E. Khaled OSAILY to promote the Government strategy in this sector to actualize the vision of H.E. Mr. President Mahmoud ABBAS.