Algeria to invest US$60 billion in renewable energy
Algeria is expected to invest US$60 billion in solar energy and the development of a domestic renewable industry will be reinforced, Industrial fuels and power reported Monday citing Algerian energy minister Youcef Yousfi.
- The endeavour will include two stages. Solar and wind technologies will have to withstand the scrutiny of various tests during three years. “The first is to manufacture the equipment here” in Algeria. “The second is to involve universities and research centres” to adapt renewable technologies to local climatic conditions, he said.
- The program which will be funded by Algeria’s oil tax revenue is expected to run until 2030. The industrialisation of the technologies will be achieved by 2014, according to the same source.
- Algeria has more than 2,600 hours / year of sun along more than 2 million square kilometres of its desert. The International Energy Agency believes that the country has enough land with strong sunshine to produce 162TWh of electricity.
- Economists believe that Algeria has to prepare its economy to adapt to the after-oil world. Earlier in December 2010, Algeria and Germany decided to set up a join economic commission to develop Desertec project. It is meant to make use of solar energy and wind energy in global deserts. The project is expected to be implemented in North Africa and the Middle East.