Algeria is set to launch a solar tender for 4 GW
The Algerian government is set to launch a tender for the construction of large-scale solar photovoltaic (PV) projects totalling 4 gigawatts (GW)
The Algerian government is set to launch a tender for the construction of large-scale solar photovoltaic (PV) projects totalling 4 gigawatts (GW).
The Algerian Ministry of Energy will soon launch a tender for 4,020 megawatts (MW) of solar PV capacity, expected to be floated by the end of this month.
The tender is part of the government’s renewable energy policy announced in 2015, and will be held in three 1,350 MW phases.
The projects allocated through the tenders will be located in Hautes Plaines in northern Algeria and also in the south of the country.
The government will set up special purpose vehicles to implement the large-scale renewable energy projects.
Algerian companies and government institutions will own a 51 per cent stake in these special purpose vehicles, with the remaining 49 per cent being held by investors.
Of the 51 per cent, 40 per cent shall be held by Algerian government-owned oil company Sonatrach while 11 per cent will be controlled by state-owned utility Sonelgaz as well as other public or private Algerian companies.
Each of the projects will be funded through 30 per cent equity and 70 per cent debt finance.
Algeria has committed to install 13,500 MW of solar PV capacity by 2030.
In addition, the northern African country plans to install 2 GW of wind energy and 2 GW of concentrated solar power capacity by 2030.
To receive similar updates, sign up to our free newsletter here.