In a significant partnership, Algeria and the European Union have agreed to allocate $15.9 million (EUR 15 million) to bolster their efforts in emission mitigation, with a focus on renewable energy deployment and power interconnection. This collaborative effort builds upon a memorandum of understanding for energy cooperation signed between the two parties in 2013.
The primary objective of this funding is to support the development of renewable energy projects, the seamless integration of renewables into the energy grid using innovative technologies, and the enhancement of electrical interconnection. Moreover, the funds will contribute to the development of a green hydrogen economy, increase the role of renewables in energy production and transportation, and promote energy efficiency in buildings and public enterprises.
This financial allocation underscores the consensus achieved during a high-level political dialogue on energy in Brussels, where the EU reaffirmed Algeria’s pivotal role as a strategic and dependable partner in natural gas supply. The discussions also revolved around European demand and supplies by Algeria.
Co-chaired by EU Energy Commissioner Kadri Simson and Algerian Energy and Mines Minister Mohamed Arkab, the meeting resulted in an agreement to actively recover methane from their oil and gas industries and explore opportunities for the commercialization of captured methane. This initiative is expected to yield mutual benefits by mitigating climate change, enhancing the profitability of Algeria’s gas industry, and increasing the potential for additional gas supply to the European Union.
Both sides expressed a strong commitment to advancing renewable energy, particularly in the realm of renewable hydrogen. They are keen to explore the possibility of establishing an agreement in hydrogen cooperation to identify concrete actions and projects in this domain.
Furthermore, the two parties are planning to expand their cooperation into the exploration, production, and utilization of rare materials, particularly those used as inputs in the manufacturing of components for renewable energy production and storage. Additionally, there are discussions about the potential creation of industrial partnerships, especially in the renewables market equipment manufacturing sector.
A crucial agreement was reached to expedite talks on the cross-border exchange of electricity supply between the EU and Algeria, bridging the geographical divide imposed by the Mediterranean Sea.
Building on the success of the Taka Nadifa (clean energy) project, initiated in 2015, the EU, alongside its Algerian counterparts, has outlined a EUR 15 million cooperation program based on the priorities identified during their recent dialogue. The Taka Nadifa project is an EU support program designed to bolster Algeria’s renewables sector.
This collaboration between the EU and Algeria not only strengthens their energy ties but also emphasizes their commitment to sustainability and the reduction of greenhouse gas emissions. It marks a significant step forward in the global effort to combat climate change and foster renewable energy development.
