Where is the Dominican Renewable Energies Fund?
This series of blogs explores current mechanisms in place to finance renewable energies in the Dominican Republic. Be sure not to miss Part 1 on the Dominican Republic’s clean energy entrepreneurs, and Part 2 and Part 3 on the Dominican Republic’s efforts to incentivize clean energy production.
To help incentivize the development of renewable energies in the Dominican Republic, Law 112-00 of January 2000 established a national fund to develop renewable energies. The law creates “a special fund from the tax differential on fossil fuels in order to finance projects of great national interest for the promotion of alternative, renewable or clean energy and energy savings.” Generating its revenues from a 5 percent levy on the country’s fossil fuels imports, the fund would help to finance projects for the promotion of alternative, renewable or clean energy, and energy efficiency. Law 57-07 further stipulates that the fund, managed by the national energy commission (CNE), will also help pay for the nation’s renewable energy feed-in-tariff.