Colombia to reduce emissions

Energy, Regulation & Policy, Renewables    Jun 28, 2021 4:12 PM

Congress approved Bill 365 of 2020, whose main goal is to substantially reduce CO2 emissions in the country.

The bill is based on three essential pillars and aims to reduce emissions by 51% in 2030, La Republica reported.

Senator José David Name, creator of the project, explained that it is necessary to reduce dependence on fossil energy sources and incorporate clean fuels into the energy system. He said that the energy transition is the first pillar of this project.

Name said that the second pillar is aimed at boosting the energy market through the matrix diversification.

The project will establish legal and juridical norms for the production of energy from green and blue hydrogen.

“The law will give the same tax exemptions that wind and solar had. It is important, because with these it can be competitive to produce hydrogen,” Name highlighted.

The third pillar will be economic reactivation. Andeg’s Alejandro Castañeda said that the new law will expand the benefits of Law 1715 to new technologies.

“Incentives cannot be given to only some technologies, since the main goal is to reach carbon neutrality by 2050,” Castañeda said.

Naturgas’ Andrés Sarmiento said that this project was necessary to boost new energy technologies such as hydrogen.

He added that natural gas will be key in the energy transformation due to low pollution levels and the possibility of being mixed with other clean fuels.

Acolgen’s Natalia Gutiérrez Jaramillo said this law should be regulated as soon as possible to generate new projects that benefit users.

Bottom-Line: Creating attractive and equal conditions will generate interest with different investors, boosting new energy projects in the country.

Colombia has great potential in this area, and the authorities’ support will be key to continue advancing in the growth of renewable energies.

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