Israel seeks 10 percent of energy from renewables by 2020

JERUSALEM (Reuters) - Israel's government on Monday set a target of producing 10 percent of the country's electricity from renewable energy sources such as solar and wind by 2020.

The decision was made by the socio-economic cabinet, headed by Finance Minister Roni Bar-On. The panel also set an interim target of 5 percent by 2014.

Israel is already in the process of building solar power plants in the southern Negev desert that are expected to be operational by 2012.

"Promoting the generation of renewable energy will not only lead to a reduction in the dependency on fossil fuels and the promotion of environmental values but advancing this industry in the south will lead to the development of the periphery in the south," Bar-On said in a statement.

(Reporting by Steven Scheer)