Massader School Rooftop PV Program

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The proposed investment is for the financing of rooftop photovoltaic (PV) solar project of a capacity of up to 30 megawatt peak (MWp) to be installed on up to 500 public schools located across the West Bank (the “Project”). The Project will provide a source of domestic power generation in West Bank which is relying almost entirely on imported energy. In addition, the schools (through the Ministry of Education), will receive 18 percent of the electricity generated in lieu of their rooftops being used. The project, which will be implemented through SPVs, is being developed by Massader Company for the Development of Natural Resources and Infrastructure projects (“Massader”), a company organized under the laws in force in the West Bank. The electricity output from the Project will be sold under a 25-year PPA with multiple distribution companies (“DisCos”), which include the Jerusalem District Electricity Distribution Company, Northern Electricity Distribution Company, Hebron Electric Power Company, the Tubas Electricity Distribution Company and the Southern Electricity Company. This project is proposed as an integrated World Bank – IFC investment, with the World Bank assessing the investment for financing consideration for up to 6% of project cost.