The Energy Department at the Prime Minister’s Office (EDPMO) released a statement underlining the government’s positive stance on the development of renewable energy sources. The EDPMO has highlighted that setting the long-term renewable energy target at 10 per cent of total power generation by 2035 is a step in the right direction to steer the country towards enhancing energy security, diversifying the energy industry, increasing employment generation, and protecting the environment and global climate. To this end, the government is in the process of developing a feed-in tariff policy and legal framework as incentives for the private sector to invest in renewable energy projects. Also, the government is preparing a proposition for homeowners, entrepreneurs, and local associations, where investing in small-scale power generation would produce attractive returns and provide better financial security than putting their finances in traditional savings instruments. The government is focusing first on solar photovoltaic (PV) technologies. Further, the introduction of energy pricing reforms and strategies to improve energy efficiency and promote renewable energy technology deployment are being pursued by the government as integral elements of a holistic policy framework to steer the country towards long-term economic and energy sector sustainability
