The plant had already been hit in 2006 and was working at reduced capacity, providing just about two hours of electricity per day to the residents of Gaza.
A fuel tank supplying the Gaza power plant (GPP) was hit and damaged, resulting in closing the operations at the site.
According to the Palestinian Energy Authority, repairs are expected to take several months to complete.
The air strike is the third attack affecting the GPP since the start of the emergency and instead of various repairs, the earlier damaged ten feeder lines from Israel remained closed.
Gaza currently receives just 64MW of electricity from Egypt and Israel, less than 18% of the expected requirement.
The latest United Nations Office for the Coordination of Humanitarian Affairs (OCHA) report revealed that it is estimated to impact the living conditions for several months, including in the functioning of water, sanitation and health facilities, as well as in food production.
According to the report, the Israeli army warned all Palestinian civilians living within the Israeli imposed three kilometer wide buffer zone, to vacate the area, except for three localities, ahead of further attacks.
