BETHLEHEM, Jan. 18 (Xinhua) -- Palestinian Prime Minister Mohammed Ishtaye declared on Saturday that Palestine will invest 100 million U.S. dollars to establish an alternative energy sources company.
"At the World Economic Forum at Davos, we will announce the creation of a company with 100 million dollars investment to support projects for alternative energy sources in Palestine," Ishtaye said.
His remarks came in a speech during a groundbreaking ceremony for four new hotels in Bethlehem city in the south of the West Bank.
There are 310 sunny days in Palestine which means Palestine should focus on alternative energy sources and reduce the electricity bought from Israel, Ishtaye said.
Palestinians get some 1,100 megawatts of electricity from Israel for the cost of up to nearly 57 million dollars monthly, according to officials.
Since he took office in April 2019, Ishtaye has promised to gradually disengage from Israel economically.
