Israeli and Palestinian officials have signed a rare agreement to provide additional electricity to Palestinian residents of the northern West Bank.

Under Monday's deal, Israel's national electric company will sell an additional 60 megawatts of electricity to the power-starved Jenin area, with an option to more than double the supply. The electricity will be distributed through a Palestinian-operated substation.

The Palestinians are building a total of four substations, with backing from the European Investment Bank.

Israel's energy minister, Yuval Steinitz, Palestinian Prime Minister Rami Hamdallah and other top officials attended a ceremony near Jenin.

Maj. Gen. Yoav Mordechai, who heads Cogat, the Israeli defense body for Palestinian civilian affairs, said such agreements are "significant components of stability."

Hamdallah called the project an "impressive accomplishment."