Algeria Boosts Renewables Investment Terms, Looks To EU For Funding

Algeria has renewed calls for investment in renewable projects, amidst an increasingly pessimistic hydrocarbon production outlook. It is looking to a high-level EU energy investment forum in Algiers at the end of this month to get the ball rolling on foreign and private investment in renewables.

Algerian state energy regulator CREG has identified up to 21 sites for the construction of wind farms and solar plants. The sites will be located in the vicinity of existing power grids, CREG says.

Algiers said last year it wants to raise renewable energy capacity to 22GW by 2030, or 27% of total installed generation capacity. But progress has been slow, partly due to costs and the lack of regulatory and legal stability. Energy Minister Salah Khebri recently cut the target to 25%. (CONTINUED - 1099 WORDS)