The law was developed in recognition of the potential that renewable energy and fuels offer to boost development. It constitutes the main regulatory framework for a range of renewable energy production, from producing ethanol to the exploitation of tidal energy.
The objectives of the Law include:
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- Law 57-07 on Renewable Energy (supported by the 2008 Renewable Energy Regulating Decree No. 202-08)
Law 57-07 on Renewable Energy (supported by the 2008 Renewable Energy Regulating Decree No. 202-08)
Summary
- To diversify energy supply
- To reduce dependency on fossil fuel imports
- To promote private investment
- To mitigate the environmental impacts of fossil fuels
- To contribute to decentralisation of power and biofuel production; and increase competition between providers
The Law sets out tax exemptions and incentives for investors in renewable energy production projects. This constitutes a 100% customs tax exemption and a 10 year income tax exemption. For self-producers (e.g. domestic) a credit of up to 75% on capital costs is provided against income tax. There are also provisions for community projects.
This includes, but is not limited to, small hydro-electric installations with capacity of not more than 5MW; wind parks with capacity of not more than 50MW; and electric and solar installations of any type and power levels.
There are special rules for production of bioethanol, biodiesel and any other synthetic renewable fuel. Specifically, the Law provides for a 10-year exemption on income tax, duties, contributions and any other taxed from the beginning of operations for companies.
Documents
Document
Topics 
Beta
About this law
Year
2007
Most recent update
07/05/2007
Geography
Response areas
Mitigation
Sectors
Energy
Topics
, ,  
 Topics mentioned most in this law  Beta
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Group
Topics
Target
Policy instrument
Risk
Just transition
Renewable energy
Fossil fuel
Greenhouse gas
Economic sector
Public finance actor
Targets  2
Note
The summary of this document was written by researchers at the Grantham Research Institute . If you want to use this summary, please check terms of use for citation and licensing of third party data.