Turkish power producer Zorlu Enerji will install a 1.8 MW solar power plant in the Jericho region of Palestine in cooperation with Jerusalem District Electricity Company (JDECO), according to a press release from Zorlu Enerji.
The company and JDECO established a joint venture called ZJ Strong in May, with Zorlu Enerji holding a 75% share and JDECO the remaining 25%.
ZJ Strong has taken its first step toward building a 1.8 MW solar power plant in the Jericho region of Palestine, the company said.
According to the press release, the company and ZJ Strong will build the solar energy power station on land rented from JDECO. The electricity will be sold to JDECO for 25 years at a guaranteed price.
Power supply company JDECO distributes 25% of its electricity in Palestine, while Zorlu has 1,086 MW of installed capacity, combining 17 power plants in Turkey (seven hydropower plants, three wind farms, four geothermal power plants, and three natural gas power plants) and four abroad (a wind power plant in Pakistan and three natural gas power plants in Israel).
The signing ceremony was attended by Palestinian Energy and Natural Resources Authority Chairman Zafer Milhem, Zorlu Enerji CEO Sinan Ak, Vice Consul of Turkey in Jerusalem Ihsan Eralp Semerci, JDECO General Manager Hisham Omari, and Bank of Palestine General Manger Hashim Shawa.
Zorlu Enerji CEO Sinan Ak said the company aims to secure a total of 100 MW of installed capacity in the region.
According to Palestinian Energy and Natural Resources Authority Chairman Zafer Milhem, the three sides are considering the installation of a 5 MW solar power plant in the future.
Zorlu Enerji also has signed a loan agreement in the amount of ILS 5 million (about EUR 1.28 million) to be used for the financing of power plants, the press release reads.