Palestine Power Generation Company (PPGC) is a public shareholding company registered under the laws of the State of Palestine with its head office located in the City of Ramallah.
PPGC is owned by a group of leading Palestinian institutional investors that include the Palestine Investment Fund through its subsidiary Massader, Palestine Development and Investment Company, Palestine Telecommunications Group, the Arab Bank, the Palestine Electric Company, the Arab Palestinian Investment Company, the Bank of Palestine, Gulf Steel Company, Palestinian Pension Agency, Alquds Bank, Cairo Amman Bank, National Insurance Company, Palestine Real Estate Investment Company, Samir Ewaideh and Nassar Odeh.
PPGC has signed a number of agreements with many official bodies, for this: PPGC and Government of the state of Palestine (GoP) signed an implementation agreement to develop, design, engineer, construct, finance and operate an independent 480 MW combined cycle gas fired power plant in Jenin Governorate in the Northern part of the West Bank.In addition, PPGC and Palestine Energy Authority (PEA) signed a memorandum of understanding (MoU) that outlines and documents the framework for cooperation between the two parties on the development of the Independent Power Plant (IPP) in the North of Palestine. Also, PPGC has signed the agreed form of the Power Purchase Agreement (PPA) with the Palestine Electricity Transmission Company Ltd (PETL) and obtained the Deed of Sovereign Guarantee of the State of Palestine through the Ministry of Finance. In addition, PPGC signed a letter of internet agreement with Gaza Marine Natural Gas Field (GM) Developers to supply long-term natural gas to the project through a long-term Gas Sale and Purchase Agreement (GSPA).
On the contracting side, PPGC published Expression of interest in international magazine, local and regional newspapers for the Engineering, procurement and construction (EPC) contractors.
PPGC has also conducted several acts to manage the environmental, financial and design Project issues. First, PPGC completed the Project Environmental and Social impact Assessment (ESIA) study, which has been concluded and made subject to the public hearing and approved by the Environmental Quality Authority (EQA). Also, PPGC Project Master Plan has been approved by the Higher Planning Council on August 2018. Furthermore, PPGC signed a mandate letter with the International Finance Corporation (IFC) to mobilize and structure the project debt financing from international development finance institutions on non-recourse bases.
PPGC is working with a group of leading international advisors that include Akin Gump Law Office in London as Legal Advisor, Fichtner GmbH & Co. KG in Germany as Technical Advisor and Synergy Consulting Inc. (Infrastructure and Financial Advisory Services) as Financial Advisor, INDECS Consulting Ltd in London as Insurance Advisor and LEVANT as Financing Advisor. In addition, PPGC is working with a group of local advisors to advise on local issues.
The construction of the PPGC Jenin Power Plant is projected to start in 2019 with target commercial operation date in 2021. PPGC has completed the acquisition of the project land in Jenin Governorate in Al Jalamah which is adjacent to Jenin Industrial Free Zone with a total area of around 148,300 m2.
The Jenin Power Plant is expected to provide around 40% of Palestine annual electricity needs in Palestine in both West Bank and Gaza with a total annual production capacity of around 3,700 GWh, which will substantially reduce dependence on imported energy sources.