LUSA 10/31/2024

Lusa - Business News - CPLP: Transparent rules a must to ensure energy transition finance - regulators

Praia, Oct. 30, 2024 (Lusa) - Cabo Verde and the Association of Portuguese Language Energy Regulators (RELOP) on Wednesday argued for the need for independent and transparent regulation as an essential condition for guaranteeing the financing of the energy transition in Portuguese-speaking countries.

Financing, especially private financing, "needs stable, clear, transparent and independent regulation", defended RELOP's executive secretary, Artur Trindade, in Praia, at the second energy and climate seminar of the Community of Portuguese Language Countries (CPLP).

Without credible regulation, he warned, there are "many more difficulties in obtaining financing".

Investors must find clear rules and know that regulation follows technical and economic criteria, rather than political ones, which increases confidence in the sector.

Artur Trindade stressed that RELOP seeks to disseminate the importance of independent regulation and associated methodologies, believing that by guaranteeing this credibility, it will be possible to mobilise more investment, especially private investment, for the energy transition and climate finance.

Cabo Verde's Minister of Industry, Trade and Energy, Alexandre Monteiro, aligned himself with the same vision, emphasising the need for "independent regulation" to generate trust.

"Above all, we need effective coordination between the government, the private sector, financial institutions and civil society. Everyone must be involved and committed to this agenda," he added.

The minister called for "bold public policies" that create a favourable environment for the development of renewable energies and promote energy efficiency throughout the production and consumption chain.

In this regard, he pointed to the need for training, research and infrastructure to support the growth of renewable energies.

Since Tuesday, a Portuguese-speaking business mission has been in Cabo Verde following debates on new sources of funding and strategies for the energy transition in the CPLP, in a programme organised by the Lusophone Renewable Energy Association (ALER) and RELOP, with the support of the government of São Tomé and Príncipe, which holds the rotating presidency of the CPLP.

São Tomé and Príncipe's ambassador to Cabo Verde, Aurélio Martins, said that the event reflected the CPLP's spirit of cooperation in favour of a more sustainable energy future, emphasising the importance of involving the private sector in creating innovative climate solutions.

"The partnership between Portuguese and Cabo Verdean companies within the scope of the Climate and Environment Fund is an example of cooperation that benefits not only our countries, but also the Portuguese-speaking community as a whole," he said.

 

RS/AYLS // AYLS

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