Algeria looking at 650 MW of solar by 2015
July 30, 2012
North Africa has some of the highest solar radiation energy levels in the world, and at the same time oil and gas production in Algeria shows signs of leveling off. Algeria currently relies on oil and gas for nearly 98% of its export revenue, but a poor institutional environment and investment climate in the country’s oil and gas sector is seeing diminished interest in uptake of investment opportunities. This is in spite of the existence of significant resources.
To ameliorate that and in an attempt to draw back foreign partners, the government and Sonatrach have announced more favourable terms for production requirements and in the related tax code. The amended terms are also intended to encourage unconventional efforts, including shale projects and renewable options.