Reference: 20160624
Release date: 29 August 2018

Promoter – Financial Intermediary

MASSADER FOR NATURAL RESOURCES AND INFRASTRUCTURE DEVELOPMENT,PALESTINE INVESTMENT FUND PLC,SPECIAL PURPOSE ENTITY(IES)/FUND

Location

Description

The project consists of the construction of up to 500 rooftop photovoltaic systems on schools in the West Bank with a total capacity of up to 35 Megawatt Peak (MWp).

Objectives

The project main objective is to foster economic resilience through a long-term investment in decentralised energy systems. Another objective is to contribute to climate change mitigation by increasing electricity generation capacity from renewable sources and to support low carbon and climate resilient development; the project would also create awareness among teachers and students with respect to the benefits of renewable energy and the threat of climate change and it would reduce the Ministry of Education's financial burden.

Sector(s)

  • Energy - Electricity, gas, steam and air conditioning supply

Under ELM Guarantee

This operation is covered by the EU Guarantee for EIB loans outside the EU.

Proposed EIB finance (Approximate amount)

USD 18 million (EUR 16 million)

Total cost (Approximate amount)

USD 36 million (EUR 32 million)

Environmental aspects

If the project was located in the EU, it would fall under Annex II of the Environmental Impact Assessment (EIA) Directive (2014/52/EU), requiring the competent authorities to determine whether an EIA is required. Competent authorities in the EU would typically not require an EIA for this type of project. Under national legislation (Environmental Law of 1999, Environmental Assessment Policy of 2000) the project would follow a screening process to determine whether an EIA is required. The project impacts and compliance of the permitting procedures with EIB Environmental and Safety (E&S) standards will be assessed in detail during the appraisal.

Procurement

The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.

Status

Signed - 15/03/2019

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

Palestine* Energy