The Ministry of Energy and Mines supported the Monetary Board proposed changes to regulations that would improve renewable energy projects access to bank lending.
On December 8, 2016, the Monetary Board presented the proposed amendments to the regulations, which state that renewable energy equipment, including PV panels, wind turbines, biomass gasifiers, and others are classified as multipurpose assets accepted as collateral to mitigate provisions for credit risk.
Minister Antonio Isa Conde, chairman of the National Energy Commission (CNE), said, “We are pleased that the Ministry of Energy and Mines are proponents of this initiative, which follows the direction outlined by President Danilo Medina to support the production of clean energy.” He also noted that while Law 57-07 creates the basis and tax incentives for renewable energy promotion, finance mechanisms to improve access to project financing for clean energy production is also required.
