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OPEC member Algeria plans to install up to $3.
6 billion in solar photovoltaic (PV) projects by 2024 to produce renewable electricity to meet growing domestic electricity demand and exports
.
The government plans to spend up to $3.
6 billion on solar power installations between 2020 and 2024, with an estimated total capacity of 4 GW
, the Algerian Prime Minister's Office said in a statement.
The new solar power plant project, called TAFOUK1, is part of the government's
plan to harness renewable energy for electricity generation.
The government said the entire project would require an investment of $3.
2 billion to $3.
6 billion, which would create 56,000 jobs during the construction phase and 2,000 jobs
in the operational phase.
In addition to meeting growing domestic demand and positioning Algeria as a net exporter of electricity, the new solar project will help it retain its oil and gas resources
, the government said.
In Algeria, the oil and gas industry is the backbone of the economy, accounting for 20% of GDP and 85%
of total exports, according to OPEC.
OPEC member Algeria plans to install up to $3.
6 billion in solar photovoltaic (PV) projects by 2024 to produce renewable electricity to meet growing domestic electricity demand and exports
.
The government plans to spend up to $3.
6 billion on solar power installations between 2020 and 2024, with an estimated total capacity of 4 GW
, the Algerian Prime Minister's Office said in a statement.
The new solar power plant project, called TAFOUK1, is part of the government's
plan to harness renewable energy for electricity generation.
The government said the entire project would require an investment of $3.
2 billion to $3.
6 billion, which would create 56,000 jobs during the construction phase and 2,000 jobs
in the operational phase.
In addition to meeting growing domestic demand and positioning Algeria as a net exporter of electricity, the new solar project will help it retain its oil and gas resources
, the government said.
In Algeria, the oil and gas industry is the backbone of the economy, accounting for 20% of GDP and 85%
of total exports, according to OPEC.
