The Palestine Investment Fund (PIF) announced the agreement with ET Solar, which will develop two PV systems totaling 16.5 MW – 7.5 MW in Jericho and 9 MW in Tubas.
According to PIF, they are set to be operational by the end of the year. “The stations will be connected to power distribution and transit stations, covering multiple end-user consumers,” it added.
ET Solar was selected from a number of bidders which participated in a tender announced by Massader, a wholly owned subsidiary of PIF. Under the latter’s Noor Palestine program, it aims to develop 200 MW of solar PV capacity over eight years, via utility and rooftop projects.
In addition to signing agreements with the Jerusalem Electricity Distribution Company and the Tubas Electricity Company to distribute power generated from the projects, PIF also recently signed a US$20 million financing agreement with the Arab Bank for the construction of three solar parks, which include the two abovementioned projects, and a third, 5 MW project, to be located in Jenin.
Last March, ET Solar announced its German unit, ET Solutions AG, had started construction on a 60.9 MW PV facility in neighboring Jordan in Mafraq.
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