PADICO Chairman Bashar Masri announced the “Energy of Hope” project to generate electricity from solar energy in Gaza City, in the presence of dozens of businesswomen and men from the West Bank and Gaza Strip, and a number of senior officials from the public sector in the Energy and Natural Resources Authority and the Ministry of Economy. The National Bank, the Investment Promotion Authority and the Industrial Cities.
The "Energy of Hope" project aims to provide clean and sustainable electricity in the Gaza Strip, which suffers from frequent power outages and a scarcity of fuel needed to operate its central power plant. Upon completion of the project, the production capacity will reach 50 megawatts at a total cost of $60 million. It is also the first project. It is one of its kind in the region, as solar panels will be installed at high altitudes over public spaces, including the central islands in most sections of Salah El-Din Street, extending from the north to the south of the Strip, with a length of 45 km.
Masri said: “Today, by announcing this project, we affirm PADICO’s vision based on development and investment in our beloved country, with a focus on vital sectors, mainly in places that suffer from investor reluctance.”
He added, "The 'Energy of Hope' project will constitute a qualitative leap in providing clean electrical energy in the Strip, and the people of Gaza will truly feel its impact in terms of alleviating their suffering resulting from the blockade and the ongoing power outages," stressing that Gaza needs more of these projects to provide a decent life for our people. ; Especially since basic services such as health facilities depend mainly on electricity.
For his part, Engineer Mohamed Najjar, Director of the Infrastructure and Energy Sector at PADICO, said: “This project is considered unique in terms of its innovative design and sustainability, in addition to being one of the environmentally friendly projects, as it was planned on vital used land, to make room for utilizing the empty spaces for other purposes.” Such as agriculture and housing.
He added that the designs are currently being prepared by specialized international companies with experience in the field, namely the Italian company (RINA) and the Egyptian company (Firnas Shuman).
This project is expected to encourage other parties to invest to generate more electricity that the sector needs to recover and grow.
It is worth noting that PADICO is a public joint stock company that invests in many economic sectors, as it operates in the communications and information technology sector, the real estate sector, the financial sector, the industrial and agricultural sector, the tourism sector, the infrastructure and energy sector, and the industrial cities sector.