Algeria has launched plans to develop renewable energy and green hydrogen projects as part of a strategy to trim reliance on conventional electricity and save fossil fuels for export, newspapers in the OPEC nation said on Tuesday.

The European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ) are funding the plan, which costs around 28 million euros ($32 million), the report said.

The plan focuses on building institutional and technical capacities in the field of renewable energy, creating appropriate conditions for implementing renewable energy projects and providing tools for developing the green hydrogen economy, it said.

It also includes establishing an information database on national potential for green hydrogen applications, in addition to providing planning and monitoring tools to achieve energy savings and reduce emissions.

“This project aims to expand the use of renewable energy and develop green hydrogen projects,” the Arabic language daily Elkhabar reported.

Algeria, a major gas exporter, aims to increase the share of renewable sources in its energy mix to nearly 27 percent by 2026 with the production of around 15 gigawatts (GW). The level is set to grow further in the next five years.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com) 

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