Statoil ASA shows interest to invest in wind, solar power in Algeria

0
27

Norwegian oil and gas company Statoil ASA, has shown its interest to invest in wind and solar power project in Algeria, according to Reuters.

This case has been discussed in a meeting held between the Algerian Minister of Energy, Noureddine Boutarfa, and Norwegian foreign affairs minister Borge Brende.

It is apparently the first time that Statoil expresses interest in renewable energy projects in the country. The company has already developed two of the largest gas fields in Algeria, in partnership with oil and gas company Sonatrach.

Sonatrach will be in charge of implementing 4 GW solar plans.

Sonatrach will also hold a 40% stake in all the special purpose companies, which will own the PV projects selected in the upcoming tender.

Earlier, in Feb 2016, Statoil ASA has launched a $197 million fund dedicated to renewable energies.

It has released a statement mentioning that it is continuously evaluating new business opportunities within oil and gas, but also within renewable, as Statoil gradually builds a profitable renewable portfolio, focusing mostly on offshore wind so far, although there is no concrete solar projects at the moment.

 

 

 

 

 

WHO IS DZ BREAKING?

 

 

 

An Algerian news website aims at covering all the country’s territory through providing objective and positive image, focusing the most on breaking news.

A dynamic team is working on feeding the website by credible information in all fields of life; a reliable network composed of specialized elements working in harmony with our team in Algiers, the website’s headquarter, provides us more coverage and simultaneity.

“English” is what makes us different in Algeria and ranks us first too not only as a news website; English also makes it simple and fast for Anglophone world to discover our country.

LEAVE A REPLY

Please enter your comment!
Please enter your name here