Renewable Energy Law

[NewsWhore]

After years of discussions, after months of legislative sessions and announcement after announcement of its imminent approval, the Renewable Energy Law has been signed into law by President Leonel Fernandez and sent to the Official Gazette for publication. The new law eliminates former Law 2071 that dates from 1949 and that covered the use of ethanol as a fuel. Law 57-07 declares that it is the duty of the state to encourage alternate energy sources, and allows for the development of these sources in the Dominican Republic. The law provides major tax incentives on alternative energy imports and facilities for research and application of new energy technologies.

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