Economie

Arkab: The National Bank of Algeria guarantees financing of 413 billion dinars for the program to produce 3 gigawatts of solar energy – Algerian Dialogue

oussama

The cost of the current program for renewable energies, in its first phase related to the production of 3 gigawatts of solar energy, is estimated at more than 400 billion dirhams ($3 billion) and will be covered by a loan from the National Bank of Algeria, as confirmed today, Tuesday in Algiers, by the Minister of Energy and Mines, Mohamed Arkab.
The Minister explained, during his participation in the first edition of “Algeria…the Global Survey” issued by the consulting firm PricewaterhouseCoopers (PwC Global Survey), that “with regard to the current program, the basic financing mechanism used is local financing in the form of a loan.” It is insured by the National Bank of Algeria, and the total cost of this first phase, which is 3,300 megawatts, is estimated at 413 billion DZD ($3 billion).
As for the remainder of the program, which includes the production of 15,000 megawatts in the horizons of 2035, the financing method will depend mainly on “the development of independent energy generation projects, with private actors and dealers in charge of installing, financing, and exploiting the stations,” the minister adds during his participation in a meeting organized on the occasion, It was dedicated to “renewable energy opportunities in Algeria.”
He also indicated that additional financing could be made through Algerian financial institutions.
Mr. Arkab continued, saying, “In the end, we will obtain an appropriate framework that combines public and private financing mechanisms, and Algeria has the necessary capabilities to implement its ambitious program of developing sustainable energies.”
In the same context, he also touched on the development of hydrogen, which is a “priority goal” for the government, adding that Algeria aspires to be “a major energy hub,” by participating in model projects aimed at controlling the entire value chain of hydrogen production.
He continued to say that Algeria seeks, through its strategy, to gradually develop hydrogen for use in sectors with large energy consumption, such as the cement, fertilizer, glass and iron production sector in the first place, and to develop large capabilities in the long term, in order to produce and export. 40 terawatt-hours (about 2 million tons) of hydrogen and its derivatives.
The Minister also mentioned the process of completing two (2) model projects for the production of green hydrogen at the level of Sonatrach vehicles in Arzew (50 megawatts) and the one in Hassi Messaoud (4 megawatts) to test hydrogen transport technology, in partnership with German companies.
He added that Algeria is actively participating in talks with our European partners in order to establish the H2 Southern Corridor, which is an ambitious project to transport renewable hydrogen from Algeria to Germany via Tunisia, Italy and Austria, using existing gas pipelines and/or new connections.
The Minister also indicated that the sector seeks in the long term to use civil nuclear electricity to produce electricity after the technical and technological conditions are met.
Finally, he concluded by emphasizing that Algeria intends to continue playing its role as a major gas supplier on the international scene, adding that “gas will remain an essential resource accompanying the energy transition.”

Disseminating decentralized off-grid electrification solutions

In his response to a question about developing decentralized off-grid electrification solutions, the Minister stated that these solutions represent important opportunities for providing renewable energies in Algeria. He also mentioned many “successful experiments” that have been conducted in this field, citing a number of remote villages in the south of the country supported by autonomous solar and wind energy plants, as well as Sonatrach’s life and infrastructure bases that use autonomous energy systems outside the grid.
The same official explained, “Off-grid solutions allow these areas to be connected to electricity while providing a continuous and reliable supply, thanks to storage batteries.” These solutions also have a zero carbon footprint compared to diesel stations.”
It is important, according to Mr. Arkab, to expand this approach further, especially towards priority areas such as farms in the south, scattered homes and schools far from the networks, in addition to some industrial projects in the greater south.
On the other hand, the minister indicated that “final touches” are being made to the national energy model to rationalize demand and develop a “future vision” for different possible scenarios, stressing that “concrete measures” will be taken through financial laws.
He added that studying the results of this energy model enables the development of a road map in the medium and long term, which will ensure energy security by determining the appropriate approach for a sustainable energy transition.
The “Global CEO Survey” conference, which is witnessing its twenty-seventh edition this year and was held for the first time in Algeria, was attended by more than 4,700 CEOs of national and foreign institutions from several countries.
The Algerian edition of this conference is considered a forum to “harvest the impressions” of CEOs and their views, especially regarding the country’s economic growth.

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