Story by Farai Gwaze
THE government has moved a gear up in incentivising the renewable energy sector to attract additional funding for projects by launching the Renewable Energy Certification (REC) for power producers.
RECs will be awarded to power plants for every megawatt-hour of power produced through renewable energy means.
Africa Institute for Carbon Trading and Sustainability Chief Executive Officer, Kuda Manyanga says the initiative is a reward for generating clean energy.
“As long as you are generating power in a cleaner way through renewable energy means, then you are rewarded for producing that power. The government is committed to ensuring that we create a conducive environment for power being produced and meeting energy demands so that there is what we call, ‘addressing energy poverty of the country’.”
Chief Energy Development Officer in the Ministry of Energy and Power Development, Mr Malan Manyundo noted that Renewable Energy Certificates align with government policy, incentivise the renewable energy sector, and attract additional funding for projects.
“The renewable energy certificates align very well with government policy because they will incentivise the renewable energy sector in terms of financing renewable energy projects. It is additional funding that is coming from renewable energy projects. We are seeking financing from investors, and this is one such time for investment, which the government is supporting so that the renewable sector kicks off in a robust manner,” he said.
The launch of Renewable Energy Certificates is expected to further promote investment in renewable energy projects, thus helping the country achieve its targets and reduce reliance on fossil fuels.
