GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share

70% renewables by 2050 target is achievable if regulations adequately reflect contribution of solar and wind power says IRENA 

Dubai, UAE, May 23, 2018:  Upgrades to Panama's regulatory environment and power system management are critical to achieving the renewable energy goals set out in the country's National Energy Plan, per a Renewables Readiness Assessment Panama report released by the International Renewable Energy Agency (IRENA). The report was launched at high-level event in Panama City today and presented to the country's Secretary of Energy, Dr. Victor Urrutia.

A central recommendation of the report calls for amendments to the country's regulation of Power Purchase Agreements (PPAs) for variable renewable energy sources, such as solar and wind. Currently, these renewable energy technologies are attributed a value of zero ‘firm capacity' – the actual amount of energy that a power plant can guarantee to make available under maximum operating conditions – while thermal power plants and hydropower facilities are rewarded with far higher firm capacity values. This makes solar and wind less competitive in Panama's wholesale electricity market, and can disincentivise investment.

“Enabling policies and attractive regulatory frameworks can drive renewable energy deployment, which in turn can boost low-carbon economic growth and enhance energy security,” said IRENA Director-General Adnan Z. Amin. “Panama's abundant renewable energy resource potential offers the country an opportunity to cost-effectively meet its long-term energy needs and underpin its transition to sustainable energy future.”

Panama's National Energy Plan is a roadmap that seeks to increase the share of renewables in the power system to 70 per cent by 2050. By the end of 2016, wind and solar power capacity had reached 270 megawatts (MW) and 90 MW respectively.

“Panama can set a strong example for the Central American region by utilising our potential to generate 70 per cent of our electricity from hydropower, wind and solar resources,” said Dr. Victor Urrutia, Secretary for Energy for Panama. “IRENA's support through this RRA process will facilitate the realisation of our long-term ambition.

“In addition to the moral and ideological imperative, we also have an enormous interest and commitment to renewable energy,” continued Secretary Urrutia, “renewables are no longer an alternative option but instead offer a clear path to the future.”

Increased shares of solar and wind will also require significant flexibility mechanisms in Panama's evolving electricity network. Combined with updated power system planning and operational practices, these measures can help ensure the reliable integration of variable renewable energy in a cost-effective manner, the report suggests.

The development of a domestic renewable energy workforce is also key to the success of Panama's renewable energy programme and can bolster the growing solar PV and wind energy markets in the country. The report recommends an examination of the current national workforce in the field of renewables, compared with projected future needs in order to help inform modifications to domestic education and training programmes.



Posted by : GoDubai Editorial Team
Viewed 10394 times
Posted on : Wednesday, May 23, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Nawah Energy Company Enters Next Phase of Preparations for Barakah Unit 1 Nuclear Operations
Next Story : Over 200 Senior Energy, Petrochemical and Private Sector Leaders and CEOs Tour Ruwais As Part of the...
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Police Is the Official Eyewear in Sony Pictures' “men in Black™: International”
Michael Kors Celebrates Old Bond Street Townhouse With a Series of Events
Make their Eid special this year with these perfect gifts!
An essential guide to buying fragrance
Eid Gift Guide Options
SPF Must Haves – for everyday sun exposure!
Flormar's Three Beauty Essentials for Ramadan Nights
Gift your loved ones a fragrance to remember this Eid by Rasasi Perfumes
Rado True Thinline My Bird Limited Edition'
TAG Heuer launches 2 special editions to commemorate Indy 500 race - Carrera and...
Salvatore Ferragamo Timepieces – Spring/Summer 2019 Collection'
Tissot Chrono XL NBA Collector'
Dubai Customs discusses more cooperation with vegetable and fruit sector
Michael Kors Co-hosts the 10th Anniversary of the Annual Filmmakers Dinner
Chronoswiss Flying Regulator Night and Day Limited Edition
Carl F. Bucherer celebrates premiere of John Wick: Chapter 3 – Parabellum...
Boss Bottled Oud Aromatic and Saffron: the New Enticing Fragrances
V-Circle / Logomania Edition & Greca Edition
MOUAWAD: Wedding Sets 2019
Eberhard & Co. pays extravagant tribute to Alfa Romeo with Quadrifoglio Verde ch...
First Five Cities Revealed for New Call of Duty Esports League
Longchamp Eyewear Introduces a New Sunglass Style Featuring the Brand's Signatu...
The Ultimate Eid Gift Guide
Splash latest product images
Karl Lagerfeld and Puma Introduce Two Special-Edition Sneakers
Range Rover Reaches New Heights With Astronaut Edition Built to Celebrate Partn...
Shop the new Elna Line Collection at The Edit
Parmigiano Reggiano Exports to Gcc Region Soars to 105.2 Tons
Al-Futtaim Engineering & Technologies and Alcatel-Lucent Enterprise introduce cu...
LIU JO Eyewear Presents the New Girl's Collection
Discover the soul and spirit of Ramadan at The Dubai Mall through inspiring work...
Listings: Manarat AL Saadiyat
Carrefour Hypermarket Opens at the World's First Nature Inspired Cityland Mall
The Luxury Closet supports Dubai Cares' global education programs
Longchamp & Kendall Jenner Celebrate the Launch of the Longchamp Lgp Collection ...
Regions' happiest workplaces revealed
Looking for an opportunity to volunteer this Ramadan? Join Dubai Cares' 4-day vo...
Abdul Latif Jameel Energy expands role in Middle East water sector
OMEGA hosts a star-filled tribute to the 50th anniversary of the first lunar lan...
Samsung Becomes First TV Manufacturer to Launch The Apple TV App and AirPlay 2
Visit Dubai Festival City this Ramadan and Grab Exclusive Offers
MOHAP Youth Council organizes Art Exhibition and Competition to highlight Emirat...
Better Life Unveils Limited Edition Hand Painted Smeg Dolce X Gabbana Refrigerator
Travel Essentials Guide
Grand Opening of Prof. Sakla Spanish Eye Clinic for Eye Surgeries & Treatments i...
UAEU researcher refines literacy in the 21st century
Salvatore Ferragamo Features Leather Sunglasses In the Spring/summer 2019 Adver...
The iconic Maserati GranTurismo joins Dubai Police luxury patrol fleet
12th Edition of ‘Eiman Oasis' to be Held at Al Qasba Mosque During Ramadan
Empower signs Gold Sponsorship Agreement with ASHRAE RAL for two years