- New project enables 85% of Israel’s potable water needs to be provided through desalination
- First desalination plant in northern Israel
The European Investment Bank (EIB) is expected to provide EUR 150 million for design and construction of the EUR 425 million Western Galilee desalination, the first plant constructed in the northern part of Israel.
“Desalination is critical to preserving water as a natural resource and IDE is committed to expanding the impact of technology to increase access to fresh drinking water. The EIB is a key financier for desalination in Israel and I welcome the EUR 150 million EIB backing for the Western Galilee project that will increase water supply to residents and businesses of northern Israel,” said Alon Tavor, CEO, IDE Technologies Group.
“The European Investment Bank supports transformational climate action and water investment around the world and is pleased to strengthen support for high-impact climate adaptation and water investment in the Middle East through EUR 150 million financing for the Western Galilee water desalination project. This builds on previous EIB support for 4 out of Israel’s large scale desalination scheme and visionary projects in Jordan and Djibouti. The EIB's latest support underscores our commitment to promoting climate adaptation, resilience, and sustainable water management here in water stressed regions around the world.” said Gelsomina Vigliotti, Vice President of the European Investment Bank.
“Israel and the European Union are committed to scaling up climate action and the green transition. The EIB’s backing for Israel's first renewable energy powered desalination plant demonstrates our close partnership in tackling addressing climate change and improving water security challenges together.” said Dimiter Tzantchev, European Union Ambassador to Israel.
The Western Galilee water desalination project is Israel’s seventh desalination plant aims to address the pressing challenges of water scarcity and the impact of climate change in the region. By utilizing cutting-edge desalination technologies, the project will convert seawater into fresh water, ensuring a more secure and sustainable water supply for northern Israel.
The EIB’s support was confirmed at Tel Aviv earlier today by Gelsomina Vigliotti, Vice President of the European Investment Bank and IDE CEO Alon Tavor at a high-level climate finance symposium jointly hosted by the Israeli Climate Forum, ECOPEACE and European Investment Bank. Finance contracts are expected to be finalised in the coming weeks.
Scaling up desalination in Israel
The Western Galilee desalination plant, to be named Birkat Miriam, will join Israel’s other large scale desalination plants in operation – Ashkelon, Ashdod, Palmachim, Hadera and Sorek 1 – while IDE also constructs Sorek 2. These desalination plants have significantly increased the amount of desalinated water available for Israel’s water needs. The additional water contribution from the Western Galilee plant is expected to bring total production of desalination plants in Israel to almost 900 million cubic meters per year, representing 85-90% of household and industrial water consumption.
PPP financing for climate action
IDE will construct the plant as part of a Public Private Partnership (PPP) with the State of Israel, represented by the Ministries of Finance and Energy and the Israel Water Authority, and will be responsible for planning and financing project. IDE will also operate the plant for 25 years once the plant is built.
The EIB's long-standing cooperation with project promoter IDE enables best-practice water management, innovation and desalination technical expertise to be shared and used to strengthen the impact of similar projects around the world.
The project represents a collaborative effort between the public and private sectors, leveraging the strengths and expertise of both entities to maximize impact. The PPP structure allows for efficient project implementation, ensuring long-term sustainability and fostering economic development in the region.
Background information
EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.
