Algeria is preparing to start a solar energy production project with a capacity of about 3 gigawatts, the cost of which will be covered by the National Bank.

Mohamed Arkab – Minister of Energy and Mines in Algeria, said during his participation in a symposium issued by the consulting office of PricewaterhouseCoopers – that the basic financing mechanism used is local financing in the form of a loan secured by the National Bank of Algeria.

Arkab explained that the financing method will depend largely on the development of future energy generation projects, in addition to the presence of private sector actors and dealers who will install and finance, in addition to exploiting the stations. The project is also scheduled to be financed with additional funds by financial institutions located in Algeria.