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Algeria's state utility Sonelgaz sees an “urgent” need to tap international markets to fund capacity expansion. With gas supplies for electricity increasingly problematic, Algiers is making renewables a “national priority.”
Noureddine Bouterfa, chief executive of Algeria’s state electricity and gas utility Sonelgaz, says that the company plans as a matter of urgency to approach the international capital market to fund its investment program.
“Our problem in the short term is to find a solution to a AD1.1trillion ($10.25bn) funding deficit,” Mr Bouterfa told reporters at a forum in Algiers this week. “This is an urgent measure, which would help us to finalize our investments program up to 2018.”
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