(Bloomberg) – Bolivia is going to encourage the use of renewable energy and export more of its herbal fuel to take advantage of higher energy prices.
The Andean country aims to produce three-quarters of its electricity from renewable resources by 2025, Eusebio Aruquipa, director of the electricity regulator, said on Tuesday. Currently, about 70% of the country’s electricity is generated through herbal gas.
Sign up for news from Windsor Star, a department of Postmedia Network Inc.
A welcome email is on the way. If you don’t see it, please check your spam folder.
The next Windsor Star Headline News factor will soon be in your inbox.
We found a challenge in your registration. Revisit
President Luis Arce this month issued a decree restricting the use of the fuel to local brands that use it to generate their own electricity. This would allow the state-owned power company Yacimientos Petrolíferos Fiscales Bolivianos to sell more fuel abroad.
The ruling comes as the government seeks tactics to stimulate exports and shore up its foreign exchange reserves. Bolivia exports its fuel through pipelines to Brazil and Argentina.
Some Bolivian corporations fear the measures will increase local electricity costs. The National Chamber of Industry has indicated that it is a select proposal that will be sent to the government.
Postmedia is committed to maintaining a civilized discussion forum and encourages all readers to share their views on our articles. It can take up to an hour for comments to moderate before appearing on the site. We ask that you keep your comments applicable and respectful. I have enabled email notifications. You will now receive an email if you get a response to your comment, if there is an update to a comment thread you are following, or if a user follows your comments. See our network rules for more information and main points on how to adjust your email settings.
365 Bloor Street East, Toronto, ONTARIO M4W 3L4
© 2022 Windsor Star, a department of Postmedia Network Inc. All rights reserved. Unauthorized broadcasting, transmission or transmission is strictly prohibited.
This uses cookies to personalize your content (including ads) and allows us to analyze our traffic. Learn more about cookies here. By continuing to use our Array, you agree to our terms of use and privacy policy.