Algeria is planning to establish a body for funding energy projects, Algeria’s Minister for Energy Transition and Renewable Energy said without giving further details.
Ziane Ben Attou, said Algeria’s energy transition roadmap is based on three pillars. First is to enact laws to facilitate the transition, the second is to opt for renewable and clean energy, and third is to develop human resources by promoting research and development activities to achieve the transition.
Speaking at the Ministerial Dialogue on Clean Energy Transitions and Economic Resilience in the Middle East and North Africa organised by International Energy Agency and Ministry of Energy and Minerals Oman, the Minister said Algeria aims to produce 15,000 megawatts of solar energy by 2035 and would soon launch a bidding process.
The country is promoting renewable energy in housing, agriculture, and the industrial sector and encouraging electric cars. It also wants to rely on green hydrogen as an asset for the future and become an active player in the field, the Minister said.
(Reporting by Sowmya Sundar; Editing by Anoop Menon)
This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021