Massader School Rooftop PV Program (IFC-40641)

  • Palestine, West Bank, Gaza
Where the impacts of the investment may be experienced.
Specific Location
Jenin, Qabatia, Tubas, Nablus, Ramallah and Al-Bireh, Al Ram, Salfeet, Bethlehem and Hebron.
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 30, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 19.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 35.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 26, 2019

Disclosed by Bank Apr 30, 2019

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Project Description

According to bank documents, 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 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, 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, 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.

Investment Description
  • International Finance Corporation (IFC)

The project has a total estimated cost of up to US$35 million. The proposed IFC investment will comprise (i) an A Loan of up to US$9.5 million and (ii) a senior concessional loan of up to US$9.5 million from IFC as implementing entity of the Finland IFC Climate Change Program (“IFC –BFC”).  

Private Actors
Private Actors Description

The Project’s Sponsor is Massader, a company established in 2015 as a dedicated platform for developing projects in the energy sector in West Bank. Massader is fully owned by Palestine Investment Fund (“PIF”), the sovereign wealth fund in West Bank and Gaza. PIF’s investments include financial services and significant minority stakes in telecom, industry, real-estate, tourism, energy, hospitality, healthcare located predominantly in WB&G.

Contact Information

Massader for Developing Natural Resources and Infrastructure Projects 
Azem Bishara 
Chief Executive Officer 
+970 52 296 9600 
P.O.Box 413; Al-Ersal District; Amaar Tower, Floor 3; Ramallah, Palestine 

Local Access for Project Documentation:
Name: Azem Bishara
Title: Chief Executive Officer
Company: Massader for Developing Natural Resources and Infrastructure Projects
Address: P.O.Box 413, Al-Ersal District, Amaar Tower, Floor 3, Ramallah, Palestine
Mail to:


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