SOLAR HEATING FOR PALESTINIANS

New Energy in the Palestinian territories – a surprising development? Maybe to outsiders. But remember: Solar energy, something the Palestinians have in abundance, offers independence. Recognizing that nobody owns the sun, some Palestinian entrepreneurs are getting ready to build a New Energy enterprise.

Sustainable Energy In Palestine says there is opportunity in wind and biomass, too.

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Millennium Energy Industries and Catalyst Private Equity launch their solar energy venture in Palestine
May 26, 2008 (AME)

WHO
Millennium Energy Industries (MEI), Catalyst Private Equity, Arab Palestinian Investment LTD (APIC)

Palestinian entrepreneurs (click to enlarge)

WHAT
MEI, Catalyst and APIC have partnered to form Millennium Energy Palestine (MEP). MEP will develop solar hot water heating systems in the Palestinian territorites.

WHEN
- MEP will begin operations in Summer 2008.
- According to market studies considering current fuel costs, the MEP systems will pay for themselves in approximately 1 year by cutting 85% from conventional energy (diesel, gas, and electricity) bills.

Palestinian entrepreneurs (click to enlarge)

WHERE
- MEP will develop solar hot water and heating systems in the commercial, residential and industrial sectors.
- The first system development will be in Ramallah.

WHY
- MEI brings a 200-customer resume and 6 years of experience to the partnership.
- MEP aims to provide economically feasible solutions for residential and industrial hot water needs as well as space heating.
- Palestine’s space heating and solar water heating potential is in its hotels, hospitals, houses, educational institutions and industrial companies.
- MEI’s technology includes solution engineering, evacuated tube based products and professional installation.

A better idea? (click to enlarge)

QUOTES
Dr. Ayman Maaitah, Founder/CTO, Millennium Energy Industries: 'Solar energy for heating has been commercially viable for years. With the right engineering, products, and expertise the payback can be 0-2 years. We are excited about Millennium Palestine, and will be establishing additional JV’s and subsidiaries around the region for solar heating, cooling, and power generation over the next years.'