September 2 (Renewables Now) - Turkish independent power producer Zorlu Enerji Elektrik Uretim AS (IST:ZOREN) and the Jerusalem District Electricity Company (JDECO) will together build a 1.8-MW solar farm in the Jericho Governorate in Palestine’s West Bank.
The pair signed last week an agreement with Palestinian Energy and Natural Resources Authority (PENRA) regarding the establishment of the solar farm, Zorlu Enerji said in a press release.
The Turkish firm will build the project through ZJ Strong, a joint venture it set up with JDECO. The Jerusalem-based power company, which serves the West Bank, will purchase the output of the solar farm at a guaranteed price for 25 years.
Zorlu Enerji has also signed a loan agreement with the Bank of Palestine for ILS 5 million (USD 1.41m/EUR 1.29m) to finance the project.
(ILS 1.0 = USD 0.28/EUR 0.26)