Policy & Regulations Overview
Cuba hopes to generate a quarter of its energy needs from renewable sources over the next decade.The government's Renewable Energy Development Program aims to raise clean energy output from today's 4 percent to 24 percent by 2030 according to the information coming from the Ministry of Energy and Mines. This Program was approved by the Cuban Parliament and the Minister Council in 2014.
The plan focuses on solar power, but other alternative sources have also been prioritized, including bioelectric plants linked to the sugar industry, wind farms and hydraulic power facilities.
Spite the Foreign Investments Law allows the participation of foreign investors in energy projects; till 2019 specific renewable energy legislation did no exist. The legislation for the renewable energy was in developing state.An evaluation process and search of the best international experiences has been carried out in order to establish a firm and secure legislation for the present and future.
Just on November 2019 was promulgated the Law Decree 345 on the Development on Renewable Energy Resources and Efficient Use of Energy. This Law Decree covers all the renewable energy resources including wind energy.
Cuba considers suitable the investments on renewable energy projects based on mixed capital or completely foreign (BOOT).