Decarbonization and renewables

Regulation & Policy    Jul 19, 2021 2:54 PM

Brazil’s Minister of Mines and Energy, Bento Albuquerque, and Colombia’s Minister of Energy, (MinEneriga) Diego Mesa, spoke about the most urgent challenges and their solutions in the current energy scenario.

They said that renewable sources play a central role in achieving a more sustainable planet, Portafolio said.

Diego Mesa explained that, in Colombia, it was hard to convince investors of the benefits of new green technologies.

“We had to make legal changes in 2019 to attract investment. We bet on solar and wind energy, and convinced everyone that it was cheaper. People realized that we needed these policies and that it was viable for companies. It is a great source of investment and employment, even more so after the pandemic,” Mesa said.

The expert said that people and companies in Colombia are ready to invest in new green technologies.

“We are seeing a change of mentality,” Mesa highlighted.

Mesa said that one of the main bottlenecks in Colombia is power transmission.

“The northern region of the country has wind potential, but it is an area that needs to be interconnected with the rest of the system,” Mesa explained.

He said that transmission lines pass through indigenous lands, which requires consultation and time.

In addition, Albuquerque said that a combination of technologies and innovation is needed to achieve climate reduction goals by 2050.

“To achieve a low-carbon economy, it is necessary to encourage investments in energy. International relations must be strengthened to jointly advance towards a more sustainable world,” Albuquerque said.

Albuquerque said that Brazil is seeking new rules for the use of fuels and energy, to have an integrated market with low production costs.

“We are establishing international relations that will allow us to achieve the goals of decarbonizing our economy in the short and medium term,” he said.

Bottom-Line: The government has done a great job in creating policies and incentives to promote renewable energies but authorities have lagged behind in relevant issues such as prior consultations and environmental licensing.

Authorities must work on these issues to continue driving the growth and development of the industry.

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