Training sessions: auction system development to support renewable energies in Palestine
From 21 to 25 November, Factor Ideas for change delivered a training course to the Palestinian Energy and Natural Resources Authority (PENRA) as part of the project “Development of a renewable energy auction system for Palestine, and a web platform to manage and conduct auctions”, which was attended by members of the Palestinian Ministry of Energy, the regulatory authority and the main operator of the electricity transmission system.
The project has been running since April 2021, thanks to funding from the German Society for International Cooperation (GIZ), with the aim of supporting the growth of Palestine, as well as improving its electricity sector, increasing the use of low-carbon energy systems and encouraging private sector participation in the territory. The project has been developed by Factor’s consultancy team under the leadership of Craig Menzies, Head of the Energy Department, with the participation of Intertech Palestine, an IT services specialist and local partner.
One of the main objectives of the project, which will end in December 2021, is to design a renewable energy auction system suitable for the award of development rights for renewable energy projects in Palestine. In this way, it aims to stimulate private sector participation and encourage price competition among bidders. This will also lead to a reduction in energy prices and the development of new renewable energy projects, as electricity prices in the Palestinian Territory have been high for some time, limiting the proper functioning of some basic services and business activities.
On the other hand, a specialised web platform has been developed to organise and execute the renewable energy auction fully online, with a high participation of international investors.
Source: Global Factor