Algeria to invest up to $3.6bn on 4GW of new solar capacity by 2024

Published: 28 May 2020 - 10:51 a.m.
By: Baset Asaba

Algeria has unveiled an ambitious plan to deploy 4GW of solar photovoltaic (PV) capacity by 2024 in a bid to meet rising domestic demand for electricity.

The project will require an overall investment of between USD 3.2 billion (EUR 2.9bn) and USD 3.6 billion, the office of Prime Minister Abdelaziz Djerad said.

The proposed capacity will be installed in the period between 2020 and 2024 and, apart from covering domestic demand, it will be used for export to international markets, as well.

Dubbed TAFOUK1, the PV project is part of the government’s efforts to boost generation from renewables and preserve fossil fuel resources. The solar parks will be located across more than 10 provinces, known as wilayas, covering a total area of around 6,400 ha (15,815 acres).

The project is expected to open 56,000 jobs during the construction phase, while some 2,000 job positions will be created during the power plants’ operational life cycle.

As part of its national renewable energy and energy efficiency development plan adopted 2015, Algeria has set a goal to lift the share of renewables in its total power generation to 27% by 2030 by adding 22 GW of renewables capacity. Of the total, more than 13.5 GW will be from solar PV.

The country has so far heavily relied on oil and gas revenues but is currently working to diversify its economy, including through a shift to renewable energy. Under a target set last decade, installed green energy must reach a cumulative 22GW by 2030.

Along with Ghana, Nigeria, South Africa and Tanzania, Algeria was one of a 10-strong group of African countries singled out over their solar potential last year, as part of a joint report between the German Solar Association (BSW-Solar) and the Becquerel Institute.

Click here to add your comment

Please add your comment below
Your email address will not be published