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Algeria, UK Explore Green Energy Investment Opportunities

Algerian Minister of Energy with the Lord Mayor of the City of London (Algeria Press Service)

Algeria – The Algerian Minister of Energy, Noureddine Boutarfa recently received a British delegation led by Lord Mayor of the City of London Andrew Parmley, with whom he examined business and investment opportunities between Algeria and the UK, especially in the energy sector.

Boutarfa and Parmley also looked at ways and means to finance structuring projects in the energy sector in Algeria, the Ministry of Energy said in a statement.

During their discussions, the minister underlined the partnership projects likely to be concluded in the field of renewable energy.

The minister went on to invite firms, investors and financial institutions to respond to the call for investment in a 4,050MW solar power plant project. The project should also include the development of local manufacturing of related equipment, the minister pointed out.

"The project will be followed by another project of equal importance in the field of wind energy," said the minister.

"These two projects represent a genuine engine for socio-economic development and would open unprecedented prospects for fruitful business and investment opportunities in the African continent," he added.

Boutarfa also gave a broad outline of Algeria's energy policy and investment opportunities in the oil and gas field, as well as in the petrochemical and processing industries.

On his part, the Lord Mayor of the City of London expressed the willingness of British authorities to "develop business relations with Algeria, which is among their priorities, and with Africa in general."

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