Energy ministry drafts law to encourage investments in renewables

The energy and economy ministry has prepared a draft law promoting investments in development of renewable energy sources. The bill is sent for discussions at other state institutions and will be offered for cabinet and parliamentary approvals by the end of the year. The law will secure preferential prices for purchase of electricity generated by renewable sources and excise free terms for production and sale of biofuels. Preferential prices for clean power production are currently set in the energy law. The new legislation will expand the range of renewables that will enjoy an excise-free regime and will apply these preferences to the proportion of clean energy included in fuel mixtures. Tax preferences are now applied only for biodiesel, which is not mixed up with fossil fuels.