The United States is committed to supporting the Dominican Republic in the energy transition to eliminate its dependence on imported fossil fuels and increase clean energy production with the organization of the event “Innovative Financing Mechanisms for Renewable Energy” , held yesterday at the Ambassador Hotel.
The event was organized by the United States Government through its Agency for International Development (USAID), in collaboration with the National Council for Climate Change and Clean Development Mechanism and the Ministries of Environment and Natural Resources and Energy and Mining, as part of Latin America and Caribbean Climate Week 2022.
Robert Thomas, Chargé d’Affaires at the U.S. Embassy in the country, said now is the time to come together to generate ideas and partnerships to develop resilient and lasting solutions to address this crisis. energy.
“And what better way to do that than to invest in efforts to reduce fuel dependency and reduce emissions that contribute to climate change?” He asked.
He recognized the critical role the U.S. government can play in convening governments and private sector investors to coordinate the transition to renewable energy.
For his part, the Minister of Energy and Mines, Antonio Almonte, pointed out that the process of energy transition takes time, but above all they are processes that require a lot of money, therefore in the R&D, so that renewable energy projects are carried out, innovative mechanisms must be devised to facilitate the financing of private investors wishing to invest in the country.
“This in order to be able to undertake all the actions that could bring the country into conditions that would give an outlet to this energy revolution,” he said.
He added, moreover, that public hearings will be opened to take cognizance of the proposal to amend the implementing regulations of the law on incentives for renewable energies to, among other things, introduce the tender figure for access to energy purchase and sale contracts. .
The Minister also stressed that the country must depend less on fossil fuels and recalled that in 2022 contracts were signed for photovoltaic projects totaling more than 620 megawatts, many of which have already started to be built. Others will start working shortly.