Decree 7189 introduces a new feed-in tariff subsidy to incentivise renewable energy projects including onshore and offshore wind, solar PV and renewable plants that incorporate battery storage.
The feed-in tariff will provide a subsidy of around $0.05 to $0.08 USD per kWh depending on the type renewable energy generation.
The feed-in tariff will be higher for solar and wind projects that are built alongside battery storage capacity.
The subsidy will be awarded to projects built between 2021 and 2030 and will be provided to projects for a period of ten years with a bonus for locally sourced content.
