Massader invests in large-scale strategic projects aimed at developing Palestine's natural resources and infrastructure
Energy security is critical to impact in Palestine. Massader is helping to diversify Palestine’s energy sources by developing its oil, gas, and renewables sectors. Ongoing investments include an oil field off the coast of Gaza, a power plant in Jenin, and solar parks in Jericho and Tubas.
Massader seeks to develop Palestine’s connectivity by investing in its critical infrastructure. Ongoing projects include the development of a national fiber optic network.
Green energy and renewables will help make Palestine more energy secure – and reaffirm its commitment to sustainability and environmental protection. Massader is the leading investor in green power in Palestine.
Through its Noor Palestine program, Massader has ongoing investments in solar parks and rooftop solar panel projects across the West Bank and Gaza. More information below.
Massader sees the development of Palestine’s energy sector and natural resources as critical drivers for inclusive economic growth in Palestine. Its investments are helping to build a more innovative, prosperous, and sustainable Palestinian economy.
Noor Palestine is Massader’s solar energy plan. The program aims to develop 200 MW of solar capacity over eight years through a mix of solar parks and rooftop panels. The total program size is approximately $80 million.
Solar parks are being developed in several locations, starting with Tubas, Jericho, and Jenin. The solar park in Jenin – Palestine’s largest – is set to open in 2018.
Massader is also installing solar panels on the rooftops of public institutions, schools, commercial buildings, and residential buildings. It most recently struck an agreement with the Palestinian Ministry of Education and Higher Education to install solar panels on the rooftops of 500 public schools, the first phase of an ongoing green energy partnership.
Massader is the lead investor in the Palestine Power Generation Company (PPGC), which is developing a combined-cycle, gas-fired power plant in Jenin, with a total generation capacity of 450 MW.
This $620 million investment will meet 50% of Palestine’s energy demand, giving Palestinians renewed energy security. The plant will be connected directly to two Palestinian substations, in Jalameh and Sarra. This will ensure inclusive and consistent access to power for businesses, families, and individuals alike.
The Gaza Marine Offshore Natural Gas Field is a proven gas reserve just off Palestine’s shores.
Gaza Marine contains 1 TCF of proven natural gas reserves, located 37 km off the shore of Gaza at a depth of between 350 and 775 meters below sea level. Development of the field will contribute an estimated $2 billion in proceeds to the State of Palestine in the form of royalties/taxes.
Gaza Marine is critical for Palestine’s energy security. It will primarily serve the Palestinian market, fueling the Gaza power plant, with a capacity of 140 MW, and the PPGC Jenin Power Plant, with capacity of 450 MW. Gas will also be available for export to Jordan, through a letter of intent for sale signed with Jordan’s National Electric Power Company.
Massader is leading development of the West Bank Oil Field, located near the Palestinian town of Qalqiya, just north of Ramallah. The field is estimated to contain a reserve of 30 million barrels of oil.
Development of the West Bank Oil Field will enable domestic oil production and catalyze natural resource development in Palestine. A key enabler for energy security, the field will help reduce Palestine’s reliance on Israeli oil imports – which cost an estimated $1.5 billion per year.
A production sharing agreement has been signed with the Government of Palestine to enable the exploration and development of the field through a Massader-led National Consortium Company. A pre-exploration work program is currently under way, which will be followed by exploration and development.
Wamda is developing a fiber optic telecom infrastructure in Palestine. It is a joint venture, owned by Massader and the Jerusalem District Electricity Company (JDECO).
Fiber optics will enable local and national connectivity in Palestine. It is a key enabler for e-commerce, government services, and cloud computing.
Wamda will utilize JDECO’s existing network, and invest in new distribution networks to expand Palestine’s fiber access.
Massader is investing in waste to energy projects across Palestine. More information forthcoming.
Massader is investing in wastewater treatment projects and seawater desalination initiatives in Palestine. More information forthcoming.