Latin America PV News Snippets

DOP 1.09 Billion For Renewables Support In 2021 In Dominican Republic & More From ABSOLAR, Enel

Latin America PV News Snippets

Renewables enjoyed DOP 1.09 billion financial support from Dominican Republic in 2021, said the country’s National Energy Commission (CNE). (Illustrative Photo; Photo Credit: Dewald Kirsten/Shutterstock.com)

ABSOLAR says Brazil’s cumulative installed solar power capacity now exceeds 14 GW; Colombia’s SIC has approved merger of 4 companies to create a single Enel Colombia, focused on renewables and electromobility; Dominican Republic supported renewables with DOP 1.09 billion tax incentives in 2021.

Brazil’s cumulative solar capacity now 14 GW: Brazilian solar association ABSOLAR has said the country has exceeded 14 GW of cumulative solar capacity additions. With this, it has outdone the installed capacity of the country’s Itaipu hydroelectric power plant which is the 2nd largest in the world, it added. Separately, ABSOLAR had said it expects over 11.9 GW of new solar capacity to be added in the country in both utility scale and self-consumption solar in 2022. It would lead to a total of more than 747,000 jobs in the solar sector of the country by the end of the year.

Go ahead for Enel Colombia: The Superintendency of Companies (SIC) in Colombia has approved the merger process of 4 companies to create a single entity called Enel Colombia. The merged entities are Emgesa SA ESP, Codensa SA ESP, Enel Green Power Colombia SAS ESP and ESSA2 SpA. Enel Colombia will comprise all Enel Group’s assets in Colombia, Costa Rica, Panama and Guatemala. Enel said it will also pave the way for corporate restructuring among Enel Americas, Grupo Energia de Bogota and other shareholders. It is a result of an investment framework agreement between Enel Americas and Bogota Energy Group signed in January 2021.

Enel stated, “Among the expected benefits for operations are: greater competitive edge in the development of renewable energies, the promotion of electromobility aimed at more sustainable cities, greater resilience in the company’s cash flows thanks to greater technological and geographical diversification of assets, access to new development opportunities in Panama, Costa Rica and Guatemala, and convergence into a single business model, offering a proposal of products and services of unified value for customers and users.”

Dominican Republic supported RE with DOP 1.1 billion: In 2021, the National Energy Commission (CNE) of Dominican Republic supported a total of 1,458 applications for tax incentives, representing DOP $1.095 billion in exemptions for renewable energy projects. Incentives offered range from the exemption of 100% of the ITBIS payment, imports for self-producers and supplier companies, as well as imports from dealers, to the authorization of 40% of the credits, shared CNE Executive Director Edward Veras Díaz. ITBIS is a local value added consumption tax on transfer and import of industrialized goods and services.

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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