Algeria’s Sonelgaz Eyes Foreign Loans To Bridge $10bn Funding Gap

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.” (CONTINUED - 854 WORDS)

DATA INSIDE THIS ARTICLE

table Algeria: Planned Power Plant Start-Ups
chart Algeria End-2015 Powergen (GW)