The Ministry of Electricity and Water addressed the Fatwa and Legislation Department and the Ministry of Finance to obtain their approval of the decision regulating the purchase of renewable energy produced from third parties.
Well-informed sources in the ministry told a local Arabic daily that the ministry addressed its financial counterpart, because there is a cost that will result from activating the decision to purchase that energy, and it will be borne by the state budget, which requires the approval of the Ministry of Finance, noting that the decision will be issued immediately after the approval of the two sides and the start of its activation.
The sources stated that the committee concerned with following up the file of energy purchase from third parties is currently studying several options to support users of photovoltaic panels to encourage the trend towards clean energy.
The sources pointed out that among the ideas currently being studied are coordination with cooperative societies and an agreement with the Federation of Banks to provide the necessary financing for them, without calculating interest, and communicating with the private sector to support this type of project, as well as providing technical support to those wishing to encourage them to invest.
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