Cuban government creates a renewable investment fund to develop solar energy

The government of Cuba has asked citizens to invest in a freely convertible currency (MLC) in the development of solar energy that aims to lead Union of Cuban Electricity Corporation (UNE) .

Minister of Energy and Mines, Lifan Arront Cruz At the August 5 roundtable, he noted that UNE had recently agreed to set up a bank account in the MLC “to provide the option of contracting for certain kilowatt PV by natural and legal persons”. The minimum set is half a kilowatt.

“After contracting this energy, UNE will reduce the energy equivalent of the power that a natural or legal person acquires from the monthly bill. With funds from this account, UNE will be able to continue to increase the installation of solar parks in the country, so that the energy matrix that We want to convert it every day, so that fossil fuels are not used to generate electricity and there is more participation by the Renewable Energy Authority,” the minister said.

An official statement on The Electric Company’s Facebook profile indicates that the account has been created at the MLC Electricity Consortium’s BFI for the exclusive use of PV development in the country.

“As a natural or legal person, you can become an investor in the electric company and receive monthly benefits for 20 years,” the text says.

indicate that No need for an available area for the installation of a photovoltaic system, And do not import components “To receive the benefits of photovoltaic energy as if it were installed at home.” Cubans They just have to perform an MLC Transfer To calculate the electrical union”.

Persons who wish to receive the “Feature” must purchase a minimum of “500 Watts (Power) of $750”. If you do, UNE will automatically deduct a total of 63 kWh from your bill on a monthly basis.

“500 watts is the minimum, but the customer will be able to contract the power according to the availability of financing that the consumer has,” the text says.

UNE included for readers who don’t understand what her proposal is about, a working example. As they explain, “A person who rents 1 kilowatt of photovoltaic cells will be deducted from his monthly bill a total of 125 kilowatt-hours per month.”

“If you were a consumer consuming approximately 300 kW per month, it would fetch you in interest of 309 CUP per month and 3,705 CUP per year for 20 years. A person whose monthly consumption fluctuates at 700 kW per month would have a monthly deduction of 1,175 CUP and a year 14,100 CUP for 20 years,” says the Electric Company commercials.

In a quick account of this commercial offer that the Cuban State makes to its citizens, Those who invest $1,500 in a 1 kW PV package will recoup their investment in just over 6 yearsBut to make it more attractive, it offers customers up to 20 years of compensation.

“Remember that you will become an investor in the electricity company involved in financing an important form of generation for the future and in the payment you will get interest in the short or medium term,” says the text with the intent of moving readers so that they become investors in a The socialist state project.

UNE guarantees that This funding will be used to develop photovoltaic energy in the country.

The statement is so complex that the Cuban Electric Corporation itself, The only one of its kind in the country, it was nationalized in 1961 and owned by the stateAnd he acknowledged that “there is a lot of information and it is difficult to understand, according to the newness of the matter.”

They promised to clarify customers’ doubts and called on those interested to go to the branches of the electricity company, where the service will be contracted.”

Official Website Cubadebate He participated in the minister’s statements, noting that during the past five years, investments in renewable energy sources (FRE) in the country exceed $500 million.

The prelude to the measures announced on Thursday came at the end of July when he was The government of Cuba has authorized the non-commercial import of photovoltaic systemsand its parts and pieces by natural persons. They also allowed the entry of these products into the country to be tax-free at customs.

The measure went into effect on July 28. Approved by Resolution 206/2021Published in the Official Gazette of the Republic.