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An extract from The Renewable Vitality Regulation Evaluate, fifth Version
Introduction
Uzbekistan is essentially the most populous nation in Central Asia. It’s also gas-rich, the biggest vitality client on this area and maybe the largest future marketplace for renewable vitality, which is in its preliminary stage of growth. Uzbekistan is a rustic with a continental authorized system and republican system of energy, which ratified the Paris Settlement in 2018 with the purpose of growing clear vitality sources and decreasing greenhouse gasoline emissions per unit of gross home product by 10 per cent till 2030 in comparison with 2010 ranges. Lately, numerous normative authorized acts have been adopted to manage the renewable vitality sector and stimulate the attraction of international direct funding (FDI)2 and worldwide gamers for the event of the electrical energy business in Uzbekistan. The terminology within the Regulation on Renewable Vitality Sources3 defines renewable vitality as vitality from the solar, wind, warmth of the earth (geothermal), pure motion of water flows and biomass, that are naturally recovered within the setting.
As a part of the reforms,4 the federal government of Uzbekistan has recognized a public–non-public partnership (PPP) construction as a most well-liked methodology of attracting international funding to develop the vitality sector, whereas the Ministry of Investments and International Commerce, the Ministry of Vitality and the Public–Personal Partnership Growth State Company are the important thing gamers in reworking the market. Multilateral growth establishments such because the Worldwide Finance Company (IFC), the Asian Growth Financial institution and the European Financial institution for Reconstruction and Growth (EBRD) have offered each advisory and funding assist.
Because of these efforts, agreements have been achieved with worldwide various energy vitality corporations comparable to ACWA Energy, Masdar, Phanes Group and Complete Eren, to call a couple of, with the purpose of setting up photo voltaic and wind energy technology vegetation and the event of present thermal energy vegetation. The President of Uzbekistan accredited the State Motion Plan on Renewable Vitality, in response to which 810 tasks with a complete worth of US$5.3 billion are deliberate for the 2017–2025 interval. These tasks are being carried out throughout the framework of the ‘Idea for the Provision of the Republic of Uzbekistan with Electrical Vitality for 2020–2030’, adopted on the finish of April 2020 by the federal government. This doc units the aim to extend manufacturing as much as 5GW and 3GW for photo voltaic and wind energy, respectively, developed by the Ministry of Vitality along with the concerned ministries and departments in addition to worldwide consultants.
The legal-regulatory framework for the event of renewable vitality is primarily formed by the Regulation on Funding and Funding Actions (the Investments Regulation),5 the Regulation on the Use of Renewable Vitality Sources and the Regulation on Public–Personal Partnerships (the PPP Regulation).6 The latter facilitates the conclusion of an influence buy settlement (PPA), which gives for the rights and obligations forming the connection between the one offtaker and an unbiased energy producer. The Ministry of Vitality is entrusted with the implementation of a unified vitality coverage aimed toward guaranteeing Uzbekistan’s vitality safety, assembly the rising wants of the nation’s financial sectors and inhabitants for vitality sources, and managing public corporations Thermal Energy Vegetation, Nationwide Electrical Grids of Uzbekistan and Regional Electrical Grids, that are a part of the Ministry of Vitality.7
The present laws gives a number of land use regimes for the event of renewable vitality energy technology tasks. Authorized entities can have land plots on the premise of everlasting possession, everlasting use (limitless use), fixed-term use (for a interval of three to 10 years with the suitable to increase no multiple interval), lease and possession.8 Non-residents are restricted in the suitable to amass possession on land plots, apart from instances offered for by worldwide agreements. The supply or sale of land plots for possession, use, lease and property is carried out on the premise of allotment.9 The supply of a land plot for lease to enterprises with international investments is carried out completely by the Cupboard of Ministers. Provision of land plots is feasible in accordance with the selections of the President and the Cupboard of Ministers of Uzbekistan in accordance with funding agreements.
As for tariffs, Uzbekistan has adopted numerous normative authorized acts regulating the tariff coverage within the subject of the sale and buy of electrical energy. In 2019, a brand new tariff coverage was accredited with a deadline of 2030.10 Tariffs will likely be decided based mostly on cheap prices of electrical energy technology, transmission, distribution and gross sales, bearing in mind full reimbursement of working and capital prices. The participation of a international investor within the manufacturing and sale of electrical energy will not be prohibited by the present laws, which takes account of the ensures for the sale of generated electrical energy, the setting of tariffs and the timing of the fulfilment of obligations for an enterprise. An electrical vitality producer should be offered for throughout the framework of signed PPP agreements throughout the framework of an funding settlement being concluded, together with assured connection to the nationwide grid system.
The 12 months in evaluate
Uzbekistan’s authorities has two primary approaches to the event of renewable energy tasks. In some instances when an funding settlement is signed between a international associate and a state associate, state assist of the venture is assured. One other strategy is a standard PPP settlement for the event of a renewable venture from zero with land allotment or on the premise of accessible objects of the facility business, as listed in funding programmes.
Till lately, there have been two authorized acts that regulated renewable venture growth on concessions and PPPs, to not point out the Investments Regulation. The regulation on concessions was abolished subsequently, whereas on the identical time the concession remained as a sort of PPP settlement11 in response to the regulation, by which the state gives the non-public associate with property and land plots with the issuance of a allow to hold out a sure sort of financial exercise.
Growth of renewable tasks on the premise of funding agreements is underneath approach and agreements are nonetheless well-liked that set the negotiated regime for FDI along with authorities assist agreements. Nevertheless, as PPP is a really versatile type and in some instances envisages allotment of land for the venture – together with the truth that most if not all the agreements in renewable venture growth with the federal government are concluded on the premise of a PPP modality – this framework was recognised as essentially the most handy approach of cooperation in infrastructure growth in Uzbekistan. Clearly, either side in each sorts of agreements – the state and personal companions – conclude agreements on the event of infrastructure tasks with the purpose of socio-economic growth and, in each instances, these agreements are interchangeable, however on the identical time some peculiarities and variations stay.
The Investments Regulation doesn’t record applicable objects, however they are often the identical as in PPP growth tasks. In line with the laws, extra ensures and assist measures are offered to buyers when investing in precedence sectors of the financial system.
Earlier than deciding on the selection of a venture, one of many questions is the distinction within the chance to switch a title of possession on the article of funding. Thus, the PPP Regulation states that ‘the settlement on public–non-public partnership establishes the process for transferring of possession of the designed, created, financed, reconstructed, operated and maintained throughout the framework of the PPP venture facility to a personal associate in accordance with the selections of the President of the Republic of Uzbekistan’.12 The laws on funding actions doesn’t present for the duty to switch the funding object again to state possession because the investor is the proprietor on the premise of fulfilling funding obligations.
The next similarities of state assist should be famous. Underneath the PPP settlement, the next sorts of monetary assist will be offered to non-public companions:
- subsidies, together with these aimed toward guaranteeing a assured minimal earnings of a personal associate from the implementation of a venture;
- contributions within the type of property and property required for the implementation of a venture;
- funds from the budgets of the budgetary system allotted to pay for the consumption or use of a certain quantity or a part of items (works, companies) produced or provided;
- provision of price range loans, loans, grants, credit score strains and different sorts of financing; and
- state ensures, tax and different advantages, and different ensures or compensation.13
The next sorts of state assist for an funding venture will be offered as advantages and preferences:
- switch of state property objects or property rights to the investor at a preferential or zero redemption worth for the venture;
- provision of tax advantages and funds, together with customs; and
- subsidising rates of interest on loans obtained by an investor for the implementation of an funding venture.14
Regarding the stability clause or grandfathering rule relevant to investments,15 in accordance with the Investments Regulation by way of ensures towards unfavourable modifications in laws for an investor, acts of laws should not have retroactive impact in instances the place compliance with new legal guidelines contradicts the pursuits of the investor. If subsequent laws worsens the funding circumstances, then the laws in pressure on the date of funding is utilized to buyers’ exercise inside 10 years of the date of funding. The investor has the suitable, at his or her discretion, to use provisions of the brand new laws that enhance the funding circumstances.
PPP agreements, alternatively, should not topic to stability clauses, however the non-public associate has the suitable to demand a compensatory improve within the cost or cost to be used, in addition to demanding compensation cost if a change within the laws in pressure was after the date of conclusion of the PPP settlement and resulted in a rise within the non-public associate’s bills, or a lower in his or her earnings throughout the framework of the venture. Nevertheless, this provision doesn’t apply within the case of a laws change after the conclusion of a PPP settlement, apart from discriminatory modifications in relation to a sure PPP venture.
Lately, the federal government has partnered in renewable tasks growth with worldwide gamers, as talked about above. A number of milestone tasks have been initiated very lately and a few are already developed. As an illustration, United Arab Emirates-based Masdar Abu Dhabi Future Vitality Firm is growing landmark tasks with a capability of 1.5GW in photo voltaic and wind vitality, having signed a PPA and an funding settlement for a deliberate 500MW wind vitality venture – the biggest in Central Asia – and the 200MW Sherabad photovoltaic (PV) photo voltaic tasks in Uzbekistan. Saudi Arabia’s Acwa Energy has signed strategic agreements value greater than US$2 billion with Uzbekistan’s Ministry of Vitality. The agreements will embody the development and operation of a 1,500MW mixed cycle gasoline turbine (CCGT) energy plant and an as much as 1,000MW wind energy plant.
United Arab Emirates-based Phanes Group has signed a PPA and different venture agreements with the Uzbekistan authorities to develop a 200MW PV photo voltaic plant, which will likely be developed within the Navoi area of Uzbekistan.
One of many first tasks within the sector is by Complete Eren, which developed a wholly photo voltaic PV venture named Tutly (100MWac1) situated within the Samarkand area. The Chinese language company Liaoning Chief has begun development of a US$1.8 billion wind farm within the Gijduvan district of the Bukhara area.
Within the hydroelectric sector, there are a number of three way partnership tasks energetic and underneath approach with international buyers, in addition to numerous thermal energy plant tasks within the growth stage.
The coverage and regulatory framework
i The coverage background
The federal government of Uzbekistan is attempting to satisfy the rising wants of its financial system in vitality, on the identical time decarbonising the setting in response to the vitality growth sector’s idea 2030 highway map that incorporates mechanisms and means to extend vitality elaboration.
New legal guidelines on PPPs and the usage of renewable sources of vitality have been adopted together with a brand new tariff coverage, together with a revised coverage on creating beneficial circumstances for FDI in renewables.16
Investments in renewable vitality sources are extremely depending on authorities assist, though it will be higher to introduce norms into laws: on one hand, by decreasing the affect of presidency our bodies and, on the opposite, introducing clear mechanisms of cooperation with international companions wishing to spend money on the sector of renewable vitality. To assist the event of renewable vitality sources, it’s essential to amend legal guidelines regulating renewable vitality sources to facilitate the mixing of latest renewable vitality services into the vitality system of Uzbekistan, together with the creation of circumstances for producers to speculate and preserve vitality storage services with out over-control by regulatory authorities.
Some preferences and subsidies for investments within the hydrocarbon sector stay compared to the renewable vitality sector, because the state will not be in a position to transfer from dependence on hydrocarbon sources of vitality for its inside wants and the nationwide vitality system nonetheless depends on hydrocarbons to a terrific extent. To vary this case, it’s essential to introduce extra sustainable monetary authorities assist to the objects of renewable vitality sources and provides precedence to vitality obtained from renewable vitality sources, in addition to to introduce mechanisms liberalising the vitality costs and growing the vitality market, and furthermore returning tax incentives to the producers of photo voltaic panels.
Particular incentives are normally launched by the federal government in funding agreements partnering with buyers for giant tasks. The laws doesn’t comprise fastened feed-in tariffs, however new tariff regulation launched the rule that the margin can’t be lower than 10 per cent and greater than 20 per cent. Particular charges for electrical energy are negotiated instantly with the federal government, fixing them in US {dollars}. Tax and customs incentives are additionally relevant to development tasks for a hard and fast time frame. The IFC has signed an settlement with the federal government and obtained a mandate for conducting tenders and choice standards for members to assemble renewable vitality infrastructure to extend renewable energy capability, and stimulate and entice FDI.
ii The regulatory and consenting frameworkAuthorised our bodies
The Cupboard of Ministers implements state administration within the subject of coverage growth and growth technique for the usage of renewable vitality sources. The Ministry of Vitality is entrusted with the perform of implementing a unified vitality coverage aimed toward guaranteeing vitality safety, and assembly the rising demand of the nation’s financial system and inhabitants for vitality sources. The Ministry of Vitality, to diversify the construction of technology, is engaged on funding tasks on the rules of PPP with the huge involvement of FDI.
The method of manufacturing, distribution and consumption of electrical energy determines the preservation of centralised administration with the state joint inventory corporations Thermal Energy Vegetation, Nationwide Electrical energy Grids of Uzbekistan and Regional Electrical Grids, that are a part of the Ministry of Vitality.
Different authorities businesses that have an effect on the electrical energy sector inside their powers embody the Anti-monopoly Committee, which, in accordance with the Regulation on Pure Monopolies and the Regulation on Client Safety, observes tariffs and costs for the sale of electrical energy.
The Ministry of Justice participates within the drafting and growth of laws within the subject of renewable vitality sources. The Ministry of Financial system and Business participates within the growth and implementation of growth and funding programmes that guarantee sustainable growth of financial system for the medium and lengthy phrases. The Uzbek Company for Standardisation, Metrology and Certification (state committee Uzstandard), being a authorities physique, is authorised to unravel issues within the subject of technical regulation, standardisation, metrology and certification. It participates in guaranteeing functioning and growth of standardisation techniques within the electrical energy business and harmonisation with worldwide, interstate techniques based mostly on the applying of worldwide requirements. The state committee of vitality inspection gives state supervision over rational use, discount of losses within the technique of transmission, distribution and consumption of electrical energy, and enchancment of vitality effectivity.
The joint inventory firm Nationwide Electrical Grids is a assured single purchaser (offtaker) of produced vitality. On the identical time, company entities producing electrical energy are required to approve tariffs within the Ministry of Finance. Uzbekgidroenergo is a state-owned firm that controls the hydropower sector in Uzbekistan and formulates growth methods, implements development and modernisation tasks, negotiates on behalf of the federal government, and manages hydroelectric energy vegetation and different associated services. Present tasks are being carried out underneath the Hydropower Growth Programme.
Sources of regulation and regulation
In line with Article 6 of the Regulation on Normative Acts, there are a variety of sorts of authorized acts regulating and directing renewable vitality coverage.
The President adopts normative authorized acts within the type of decrees, selections, resolutions and orders.
Rules of state our bodies adopted by the Cupboard of Ministers decide standing, most important duties, capabilities, rights and obligations, together with procedures for organising the actions of state our bodies and their structural models, in addition to procedures for regulating public relations particularly areas.
Methods decide the precedence instructions for the event of the nation or key industries for the medium and long run. Ideas outline key priorities, targets, most important instructions, duties and mechanisms for the implementation of state coverage particularly areas.
The programme or highway map defines a system of measures (interrelated by way of aims, implementation deadlines, funding sources and accountable executors) and mechanisms to make sure the achievement of the targets of state.
Connection to electrical system
Sadly, there are not any inexperienced standards phrases ascribed to the vitality produced relying on the tactic of its manufacturing in response to Uzbek regulation. A Decision of the Cupboard of Ministers accredited the rules for connecting to the unified electrical energy system of enterprises producing electrical vitality, together with renewable vitality sources.17
Unbiased turbines of electrical energy from renewable sources will be linked to a single electrical energy system on the phrases of block stations or on a aggressive foundation.
Grid connection process
The process consists of 12 phases, together with acquiring technical specs, growth, consideration, technical circumstances, approval of tasks, direct connection and sealing of metering units. The entire course of takes roughly six months. Monitoring compliance with the rules and guaranteeing non-discriminatory entry to energy grids are entrusted to the Ministry of Vitality and the Anti-monopoly Committee. To attach electrical installations to the unified electrical energy system, the producer is obliged to cross technical circumstances for the connection of latest or extra producing capacities from the organisation to the electrical networks of which the connection is projected.
Acquiring technical circumstances will not be required when the usage of all generated electrical vitality is offered for residential wants and, on this case, the producer’s electrical installations should not linked to a single electrical energy system. On the identical time, the producer commissions electrical installations for the manufacturing {of electrical} vitality after inspection and acquiring permission from the state committee of vitality inspection to start working, and is accountable for the right technical situation {of electrical} installations and guaranteeing electrical security. For producers with a capability of as much as 20kW, approval from the state committee of vitality inspection will not be required.
Surroundings issues and land use
As of 1 October 2019, new guidelines for the allocation of land plots have been established in Uzbekistan. The brand new process gives for less than two choices for buying the suitable to a land plot. Participation is in an open on-line public sale or in accordance with selections of the President or the Cupboard of Ministers.18
With the participation of a international investor in an open on-line public sale, the rights to a land plot are acquired completely by paying the price of the lot. Selections of the President and the Cupboard of Ministers of Uzbekistan on the allotment of a land plot will be made throughout the framework of the signing of an funding settlement. When implementing the allotment of a land plot for an investor’s venture, the environmental management authorities might accrue compensation funds for compensation for harm to the setting.
Compensation funds will be charged for slicing down bushes and shrubs, and in instances of violations of the habitat of wildlife objects within the technique of development and operation of an funding exercise object.19
The present laws gives for an environmental affect evaluation throughout the framework of the development and operation of an funding object to find out the adverse affect on the state of the setting and the well being of residents.20
Renewable vitality venture growth
i Mission finance transaction structuresOwnership construction
With the introduction of PPP tasks for main infrastructure sectors of Uzbekistan, the nation has began seeing progressive financing buildings for such tasks. Nevertheless, Uzbekistan’s venture finance regulation and observe are nonetheless in a stage of growth. The regulation has but to offer for the sure phrases and ideas and their implications for observe, such because the Safety Agent, the Inter-creditor Agent or the Pledge of Accounts and Project used as a safety curiosity.
Underneath PPP buildings and in accordance with the laws, buyers and sponsors are allowed21 (and generally required)22 to include an area venture firm with 100 per cent fairness possession. Thus, such corporations, underneath the Regulation on International Borrowing, have the suitable to draw funding within the type of exterior loans, and by issuing and inserting bonds in capital markets.23
In accordance with Article 33 of the PPP Regulation, a PPP settlement establishes the process for the switch of possession rights to a venture object or facility to a public associate or a State Asset Administration Company of Uzbekistan. If a venture stipulates switch of possession of any such property to a personal associate, such a switch shall happen in accordance with the choice of the President of Uzbekistan. The PPP settlement should point out the timeframe of switch of possession of the article or facility of the PPP. This timeframe could also be one of many following:
- the second of placing the article of the PPP into operation;
- the second of expiry of the PPP settlement; or
- one other cut-off date specified within the PPP settlement.
Typical venture growth and possession buildings for renewable vitality tasks might happen on a design–construct–finance–personal–function–preserve foundation. In accordance with the venture settlement, the non-public associate, within the case of photo voltaic PV energy tasks, could also be obliged to decommission the plant and recultivate the land earlier than transferring it again to the state physique (normally the native authorities company) or switch the plant as it’s to the federal government.
The federal government-owned joint inventory firm Nationwide Electrical Networks of Uzbekistan indicators the PPA with the venture firm with a time period of 20–25 years and acts as an offtaker, whereas the Ministry of International Investments and Commerce enters right into a authorities assist settlement (additionally known as an funding settlement) with the venture sponsor. The latter normally gives for funding assist undertakings, liquidity assist mechanisms, exemptions and incentives for the investor (and venture firm), and different associated provisions.
Lenders
The power of the potential venture sponsors to draw debt-based financing is normally ensured by a pre-bidding requirement for the bidders to offer an in depth financing plan of their bid submission, together with a signed time period sheet from potential financiers. Worldwide growth banks are main gamers within the growth of Uzbekistan’s renewable vitality sector as lender (each venture finance lender and fairness bridge mortgage supplier) and because the authorities’s transaction adviser. One of many first renewable venture finance transactions in Uzbekistan led by Complete Eren (France), the Tutly Complete Eren 100-MW Photo voltaic PV Mission, has efficiently reached financing closure with loans totalling €87.4 million. The European Funding Financial institution, the EBRD and Proparco, an affiliate of the French Growth Company, are performing as lenders.24 As at early Could 2021, the development of the photo voltaic farm, situated within the Samarkand area of Uzbekistan, has already began.
Industrial banks are exhibiting curiosity within the Uzbek market too. Though the venture entails non-renewable conventional gas-powered energy technology (CCGT 1500MW), by the use of instance, ACWA Energy (Saudi Arabia) has lately (as at Could 2021) signed a financing package deal involving a syndicate of seven worldwide lenders who will present US$750 million senior debt for the US$1 billion venture. The lead entities embody the EBRD, the German Funding Company, Commonplace Chartered, Natixis, Société Générale, the Group of the Petroleum Exporting Nations Fund for Worldwide Growth and the Financial institution of China. The business banks are offering funding on the again of a Multilateral Funding Assure Company four-point cowl.
The PPP Regulation permits venture sponsors to offer the venture lenders with any varieties or types of safety, together with rights underneath a PPP settlement and agreements concluded pursuant to this settlement, rights, property, the suitable to make use of a land plot, pledge of shares, pledge or task of rights, earnings and quantities due as a part of a PPP venture.25
Lenders in venture finance transactions can even conclude a direct settlement with the general public associate (or non-public associate) and such settlement should comprise the next provisions:
- the rights and obligations of lenders in reference to the alternative or elimination of a personal associate (administration of a personal associate);
- in case of alternative or elimination of the non-public associate, an obligation to make funds by the general public associate to the lenders, with these funds in any other case payable to the non-public associate in accordance with the PPP settlement;
- provisions decreasing the danger of termination of the PPP settlement;
- funds in case of early termination of a PPP settlement;
- the process for exchanging data on the implementation of a PPP venture, on guaranteeing the rights and obligations of the events.26
Sure transactional peculiarities
The venture paperwork might embody structural provisions permitting for a refinancing within the capital markets, comparable to future venture bond take-out. The tasks, as observe exhibits, might profit from credit score enhancement by a authorities assist settlement (GSA) made between the Uzbek authorities, the sponsor (venture investor) and the venture firm. Whereas the GSA is structured and concluded underneath the Investments Regulation,27 procurement of an unbiased energy producer and signing of the PPA happen underneath the PPP Regulation. This blended nature of the transaction is sort of distinctive from a authorized perspective.
In accordance with the PPP Regulation, the PPA will be concluded by direct negotiations with out conducting a young, in that case offered within the decrees of the President or the Cupboard of Ministers.28
Single offtaker
The federal government-owned joint inventory firm Nationwide Electrical Grids of Uzbekistan acts as a single purchaser of the renewable vitality produced by unbiased energy producers.
ii Non-project finance growth
All present renewable vitality tasks are being developed underneath the venture finance construction.
Distributed and residential renewable vitality
Distributed (on-site) renewable vitality technology will not be extensively practised in Uzbekistan, neither on the native authorities nor the group stage. The present pattern of growth of the vitality sector, together with renewable energy technology, for the interval as much as 2030 is coordinated by the Ministry of Vitality by implementation of main funding tasks. Nevertheless, the laws does present tax incentives to owners for putting in photo voltaic panels for personal use by disconnecting from the grid.29
Mergers and acquisitions
Renewable vitality provide chains
The Regulation on the Use of Renewable Vitality Sources, when adopted in 2019, had a provision offering exemptions to the producers of renewable vitality gear from all types of taxes, which was later abolished.30 Nevertheless, the importers of technological gear (together with renewable energy-related gear and installations) might profit from customized responsibility and worth added tax exemptions if comparable merchandise should not produced domestically.31 The method will not be automated. The importer should file an utility to the Centre for Complete Experience of Initiatives and Import Contracts underneath the Ministry of Financial Growth and Poverty Discount to conduct an examination of whether or not the manufacturing of analogues of imported technological gear exists or is absent within the territory Uzbekistan.
Within the framework of particular person tasks, extra customs and tax incentives could also be offered in that case stipulated by presidential decree.
Different key concerns
Conclusions and outlook
The brand new management of Uzbekistan has taken a course on the event of vitality manufacturing to extend the quantity of generated vitality with a rise within the share of renewable vitality sources and a lower in carbon dioxide emitted into the ambiance. Lately, the development of a nuclear energy plant has begun, in addition to works on the modernisation {of electrical} networks and infrastructure, and energetic negotiations are being performed with the representatives of international corporations that produce electrical energy from renewable vitality sources.
Though there are some factors that may be improved, buyers have the chance to barter comfy phrases. The federal government is attempting to scale back the costs for electrical energy as a lot as potential. The World Financial institution Group Scaling Photo voltaic Programme is being carried out and the potential of Uzbekistan within the subject of renewable vitality growth has not but been tapped. It’s essential to introduce a system of inexperienced tariffs, feed-in tariffs, subsidies and tax incentives for producers of electrical energy from renewable vitality and gear.
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