Adopted renewable energy law
12 Jan 2010
On 12 January 2010, the Government adopted a Renewable Energy Law designed to make investment faster and easier. The energy and mineral resources Minister, Khalid al-Irani, told at a press conference on 14 January that the law will allow companies wanting to set up renewable energy projects to bypass a competitive bidding process and negotiate directly with his Ministry to establish renewable energy projects. Under the new law, the National Electric Power Company (NEPCO) will be obliged to purchase all energy produced by renewable energy companies and to cover the cost of connecting their projects to the main grid. Another important feature of the new law is the establishment of the Renewable Energy and Energy Efficiency Fund, which will be devoted to supporting energy-saving and renewable energy initiatives. Private sector companies and investors from within and outside the country can apply to the Fund, which will be funded through the State budget and international donor agencies.
-
Type:
-
Entry and establishment (Approval and admission)
-
Industry:
-
Services (Electricity, gas, steam and air conditioning supply)
-
Sources:
