Padico Holding


Bashar Masri, PADICO Holding Chairman of BOD, inaugurates the electric power generation project in Gaza

The largest in Palestine and the second in the Middle East

Gaza, 10 March 2021 

PADICO Holding launched the electric power generation from solar energy, which is considered the largest in Palestine and the second in the Middle East, project in Gaza Industrial City.

The project includes more than 21 thousand solar cells installed on 32 industrial buildings in Gaza Industrial City, with a production capacity of (7.3) megawatts, and a total value of about $12 million.

The project will provide electricity for all governmental factories and offices, international organizations and commercial facilities based in Gaza Industrial City.

The project was inaugurated Bashar Masri, PADICO Holding Chairman of BOD, in the presence of the Deputy Minister of National Economy, Chairman of the Board of Directors of the Investment Promotion and Industrial Cities Authority in Gaza, Dr. Rushdi Wadi, the Vice Chairman of the Energy Authority in Gaza, Eng. Samir Mutair, the Director General of the Electricity Distribution Company in the Governorates of Gaza, Engineer Maher Ayesh, and the Director of the Financing Project for Job Creation (F4J) Mazen Asaad, in addition to a number of businessmen in the Gaza Strip.

In this context, Masri affirmed the importance of the project in the enhancement of the economic structure of Gaza Strip, and its contribution to breaking the siege and alleviating the suffering of our people there, saying, “With God’s Will and everyone’s determination, Gaza will return as before and better, by creating job opportunities for young people, because our people have the right to work and live in freedom and dignity.”

Masri described the project as strategic and important, especially at this difficult time that the Palestinian economy is going through and the great deficit in the energy sector in Gaza, calling on investors and businessmen to increase investment in the beloved Gaza Strip as a promising area, in addition to its dire need for economic projects, especially those that affect the daily life aspects and today our people is in need to leadership decisions that ensure change and move the national economy engine quickly.

For his turn, Wadi said that Gaza Strip is suffering from a deficit in electric power by 50% because of the siege and restrictions imposed on the entry of fuel, the matter that causes an electricity crisis, as it only works for a maximum of 4-8 hours per day without regularity, which considerably impacted the private sector and economic facilities. This project is considered an ideal solution specifically for the Industrial City that regularly and permanently needs the availability of electricity.

Wadi praised Masri efforts for investing in most areas that actually need work, despite the fear of many businessmen from coming and investing their money there. Moreover, this national project opens the way for factories operating in Gaza Industrial City to increase their production capacity after electricity becomes permanently available without interruption and at a less cost, in addition to the opening of new factories.

For his part, Mutair said that this national project is in line with renewable energy efficiency and the Palestinian government’s direction, represented by the Energy Authority, to develop alternative energy sources and promote their use in all sectors, which contributes to reducing dependence on imported energy, achieving energy security, diversifying energy sources, sustainable development and protecting the environment.

Mutair stressed that this project, the first of its kind in Palestine, is an encouraging step for all private sector companies and potential investors in the energy sector, to contribute to solving the issue of the acute shortage of electric power in the Gaza Strip.

For his part, Asaad re-affirmed the importance of supporting investment projects and promoting investments of the private sector that generate new and sustainable job opportunities, within the innovative financial instrument “the Joint Financing Investment Fund”, which works to provide the required partial financing to enable investors to launch viable investments that have economic and social benefits, such as this project, which will have a positive role in providing more than 800 direct and indirect job opportunities in the Gaza Industrial Zone. This is in addition to its role in reducing demand for conventional energy and improving the distribution timetable, especially that the concentration of factories in the Gaza industrial zone will be on renewable energy.

Asaad pointed out that the financing project aims to create job opportunities and it is a project of the Palestinian Ministry of Finance and is implemented by the Developmental Alternatives Company (DAI) and with the World Bank.

For his part, PADICO Chairman of the Board of Directors (Gaza Industrial City Developer) Khaled Anabtawi, gave a brief explanation of the project and the steps that have been accomplished in it, especially the difficulties we faced in introducing materials and special solar cells in the construction of the project, but thanks to God and the efforts of everyone, we overcame that and were able to complete the project in record time.

He pointed out that it is expected that the rates of employment and productivity in Gaza Industrial City will rise with the increase in the number of factories as a result of the availability of a permanent and uninterrupted source of electricity, which means creating additional job opportunities for our people.

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