The Algerian Energy Company (AEC)is hoping to raise $12,200 million for an ambitious portfolio of power projects, AEC project director Kamel Sid told delegates at the MEED conference on corporate and project finance on 17 October. At the heart of the company's plans is the installation of 2,000 MW of private power capacity and construction of a $1,500 million subsea pipeline to export power to Spain. AEC is also looking at the possibility of a new trans-Mediterranean link to export electricity to Italy, he said.
Established in May, AEC is jointly-owned by national energy company Sonatrachand state power company Sonelgaz. Five international developers submitted technical bids for the construction of two plants, one of which will provide 1,200 MW for export to Spain. Italian electrical services company CESIhas been commissioned to study the feasibility of the export plan. AEC is waiting for the results of the study before inviting commercial bids for the 1,200-MW plant, which will be built at Skikda, and for a second 800-MW plant at Arzew, which will produce power for the domestic market (MEED 12:10:01).
AEC's future plans include the construction of a submarine cable to Italy, which would carry up to 1,000 MW via an interconnecting link to either Sardinia, Sicily or Tunisia. Other plans include the development of a 15,000-kilometre optical fibre system based on existing electricity networks.
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.