Algeria to spend 22bn euros on 15,000 MW renewables, Tebboune says

President Abdelmadjid Tebboune said in Moscow on Tuesday that Algeria will spend about 22bn euros on renewable energy, aiming for 15,000 MW of capacity by 2035.

Algérie Eco and TSA reported that the president's message was read by Prime Minister Sifi Ghrieb at the 8th summit of the Gas Exporting Countries Forum (GECF) in Moscow. The forum brings together leaders of gas-exporting countries.

TSA reported that large investments will be made over the next ten years under the national programme.

"Algeria is firmly committed to a fair and orderly energy transition, reconciling climate needs, national sovereignty and energy security," Tebboune said.

The president added that Algeria wants to cut its emissions and reduce the carbon footprint of its industry.

"Our ambition is clear: we do not undergo the energy transition, we draw its outline ourselves, by reducing the carbon footprint of our industry, limiting methane emissions and gas flaring, and developing carbon capture," the president said.

The president also said Algeria wants to become a major player in hydrogen. This will be done through the SoutH2 Corridor, which the country is building with European partners and Tunisia.

The corridor will allow Algeria to export gas, electricity, ammonia and hydrogen, the president said. He said this would strengthen the country's position as a transcontinental energy hub.

Tebboune also said that natural gas is a natural partner of renewable energy, guaranteeing the stability of power systems and helping to reduce emissions.

He said large investments in gas infrastructure need stable rules and a fair value for gas, especially in long-term contracts. He called for constructive dialogue on a regulatory framework that all sides can accept.

The transition must be fair and gradual, and must not place costs on developing countries that they are not responsible for, the president said.