Algeria invests €22 billion in renewable energy, with Europe in its sights

President Abdelmadjid Tebboune announced on October 27, 2026, that Algeria would invest nearly €22 billion in its renewable energy program, targeting 15,000 megawatts of capacity by 2035. Algeria aims to build on its role as a gas supplier to Spain and Italy and become an exporter of green energy to Europe. The SoutH2 corridor, being developed with European partners and Tunisia, is intended to connect Algeria to Europe through Italy, Austria and Germany, carrying gas, electricity, ammonia and hydrogen. Authorities plan to raise nearly $10 billion through international funds and partnerships for a second phase of 11.8 GW.