Italian oil and gas giant Eni Group (ENI) and the Algerian government-supported Sonatrach companies to develop solar photovoltaic power generation projects.
Eni Group since 1981 has been committed to the development of energy projects in Algeria, the North African countries have invested more than 11.5 billion US dollars to develop oil and gas projects.
Eni Group's investment in Algeria accounted for 26% of all foreign direct investment in the country, a large investment in fossil fuel power generation project development.
Eni will work with government-backed energy company Sonatrach. Solar plant production is expected to begin in late 2016, based on the agreement between Eni Group and Sonatrach to develop renewable energy projects in Algeria. The solar powered portable generator is a part of renewable energy.
According to Claudio Descalzi, chief executive of Eni Group, Eni is eager to realize the integration of traditional business with traditional renewable energy, which can be seen as a pivot for energy structure transformation.
In the early 1970s, Eni was the first foreign company to sign an agreement with Algeria to build a Transmed gas project. In 1987, it was the first oil and gas company to sign an upstream contract with Algeria and a strategic cooperation agreement with the Algerian solar industry Of the first oil and gas companies.
The company will set up by 2030 13.5GW solar installed target in 2015, Algeria added about 260MW solar energy projects.
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