Izdehar Palestine and the government agree to build a power generation station.
Ramallah – Ma’an – Under the auspices and presence of Prime Minister Dr. Mohammad Shtayyeh, a signing ceremony was held today at the Prime Minister’s headquarters in Ramallah for the implementation of the Palestine Prosperity Station for electricity production.
The agreement was signed between the Palestinian government and the Izdehar Palestine Energy Company to establish a power generation station with a capacity of approximately 200 megawatts in the Hebron governorate, at an investment of up to $250 million from the private sector.
The project, which will provide natural gas supplies to operate the station, is part of a series of pioneering, qualitative, and gigantic projects undertaken by the Izdehar Palestine Fund in the country. This project, which falls under the framework of enhancing the partnership between the private and public sectors, is aimed at achieving economic and energy independence for the State of Palestine. The project will provide the necessary electrical power supply to the southern West Bank region at least upon its completion and operation.
The government authorized Eng. Zafir Malaheem, the head of the Energy and Natural Resources Authority, to sign the agreement, while Mr. Rafiq Abu Manshar, the Chairman of the Board of Directors of Izdehar Palestine Energy Company, represented the company.
Bassel Al-Qadi, the CEO of the Palestine Prosperity Group, highlighted the importance of this vital project for the current state of electricity in the Hebron governorate and in Palestine as a whole. It aims to provide the necessary electrical energy for the development of the industrial sector in the region, which currently faces a severe shortage and deficit in power supply. This project plays a significant role in boosting the Palestinian economy, which is the core of Izdehar’s mission.
The Izdehar Palestine Energy Station project is located on the outskirts of the Tarkumiya industrial city. The development of this project is expected to begin within the next year, transforming it into an exemplary industrial zone in the Hebron governorate, requiring a substantial amount of electrical energy.
Lastly, It is worth mentioning that the Izdehar Palestine Energy Company is one of the companies under the Izdehar Palestine Development and Investment Fund, established in 2019 as an initiative by a group of businessmen to create developmental projects with social, economic, and investment impact. In this context, the financial model for the project’s investment has been designed, whereby capital will be partially provided by Izdehar Palestine and its Palestinian partners. The company will subsequently offer shares for public subscription in the next stage.
