Vítor Fontes, who was speaking to Lusa on the sidelines of the Luanda Oil & Gas and Renewable Energy conference, organized by Petroangola, which runs until Friday at the Talatona Convention Center, in Luanda, considered that some steps had already been taken, but it is still necessary "clean up some rough edges", namely in terms of capital export guarantees.
"I think that there is a need to create a legislative and regulatory framework that creates confidence at the investor level. There are interested parties, there is no lack of expressions of interest to invest in this area, namely in photovoltaic solar, but also in mini-hydro, but this legislative building still needs to be completed and regulatory so that the investor feels safe enough to make this investment", he suggested.
For Vítor Fontes, it is essential to streamline the processes that lead to the realization of the investment, the guarantee of capital repatriation or to make the energy purchase contracts in a currency that gives some stability, in particular to those who will use foreign financing so that they can be reimbursed for the investment.
"There is greater sensitivity on the part of government entities that are currently with this process in hand, but there is still work to be done," he stressed.
The president of Asaer highlighted, on the other hand, that Angola is already in a comfortable position from the point of view of the use of renewable energy, since 70 percent of electricity is generated through hydropower and it is expected that in the next few years, approximately 500 MWh (megawatts/hour) through photovoltaic solar energy, of which 370 MWh are already under construction.
He also referred that the energy transition should be seen in a more comprehensive way and that Angola cannot remain outside this global movement that intends to take significant measures towards decarbonisation.
"In some aspects of government policy, there still seems to be no clear vision of the consequences of the international climate that will force this energy transition to take place, whether we like it or not," he commented.
