They are interested in reaching an agreement with the Palestinians regarding electricity production. The investment will be hundreds of millions of dollars.
The firms Westinghouse and Raytheon notified Israel Electric Corp General Manager Rafi Peled they plan to build a floating power station off the Gaza Strip Coast through a joint consortium. The companies would like to reach an agreement with the Palestinian Authority, following which they would huge barges to carry power stations consisting of industrial gas turbines. This would be an investment of hundreds of millions of dollars.
According to Peled, the consortium plans the floating power stations primarily for developing countries, such as Haiti, the Dominican Republic, Ghana, India and Pakistan.
The construction of floating power stations is intended to lessen the financial risks involved for investors, who hesitate to invest hundreds of millions of dollars in developing countries whose regimes are in peril. The floating station can be moved to another region in the event of a change of regime and lack of realization of terms of payment.