Massader, the energy investment arm of the Palestine Investment Fund (PIF), the Arab Palestinian Investment Company (APIC), and the Bank of Palestine Group (BoP) have announced the formation of a joint venture aimed at investing in renewable energy projects in Palestine.
The new entity, to be named Taqa, will be jointly owned by the three partners and will focus on financing and developing medium- and large-scale renewable energy projects. The initiative is expected to increase the share of renewables in Palestine’s domestic power generation mix, helping to improve energy supply and reduce the country’s reliance on imports.
According to APIC, Taqa’s projects will support key sectors such as industry, agriculture, and trade, making energy more affordable and sustainable while contributing to economic growth.
“Palestine has a strong potential in solar energy, and through this partnership, we aim to transform our natural resources into productive projects that generate added value and create jobs, becoming a true driver of economic and social development,” said Tarek Aggad, chairman of APIC.
The new venture reflects growing efforts to enhance energy security and sustainability in the region through strategic partnerships and investments.
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