Paraguay regulates the new Renewable Energy Law

Asunción, Agencia IP.- The Executive Branch promulgated the regulatory decree of Law No. 6977/2023 on Non-Conventional Renewable Energies (NCRE). This initiative aims to develop the market for non-hydropower electric energy, an industry virtually nonexistent in the country today.

The President of the Republic, Santiago Peña, signed Decree No. 1,168, approving the regulations of Law No. 6977/2023, «Regulating the promotion, generation, production, development, and use of electric energy from non-conventional renewable energy sources other than hydropower.»

The President said, «We are working together on state policies that promote our energy security for many more years.»

He mentioned that with the regulation of Law 6977, alternative electric energy sources will be promoted so that Paraguay’s development does not stop.

«We are securing our energy for the future! Because energy is a key resource for development, we are preparing with everything so that Paraguay continues to have an abundance of this increasingly precious resource worldwide,» the President also wrote on his social networks.

«We are preparing for the future»

During a press conference, the Minister of Public Works (MOPC) Claudia Centurión, indicated that through this tool, they are preparing for the future, guaranteeing the country’s energy security and promoting the diversification of the energy matrix.

«Through regulation, we can involve the private sector in this generation of electric energy to take giant steps towards innovation and the promotion of new industries that will bring us employment and, above all, more sustainability,» she asserted.

Photo credits: Presidency of the Republic.

For his part, the Deputy Minister of Mines and Energy, Mauricio Bejarano, emphasized that as of the date, there will be new players in energy generation, referring to the private sector.

«We will have energy security for the future, which characterizes us today, and we cannot lose. With this, we are doing something meaningful for the energy sector, diversifying the generation matrix. We cannot lose the condition of being a 100 percent renewable country; it allows us to prepare for private capital investment and guarantee the future of our nation,» he explained.

Likewise, the President of the National Electricity Administration (ANDE), Félix Sosa, indicated that Paraguay is experiencing significant growth in energy consumption, the highest in the region in the last ten years, hence the need to diversify the energy matrix.

«This is a fundamental tool to diversify the generation matrix and ensure long-term energy availability,» he concluded.