International finance, Sonatrach to support Algerian wind, solar projects
- 04 Oct 2016
| 4 minute read
No public money is available to support Algeria’s ambitious renewable energy development programme, which remains a high national priority despite the lack of projects. So support for solar and wind projects will have to come from the private sector and mostly from international companies, according to the most recent statements from energy minister Noureddine Bouterfa, who says the programme will now be rebooted. But despite the low global oil price and domestic fiscal austerity, it is far from clear that Algeria is ready to return to international project financing, which has been outlawed for more than a decade. The sector may fall back on the tried and tested backstop of bringing in state-owned oil and gas company Sonatrach to fill the gap.
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