Investors in renewable energy are responsive to restrictions, taxes, and incentives, Masdar (UAE) representative Murad Sadikhov said at the event "Investments in Renewable Energy: Paths to a Sustainable Future," organized within the framework of COP29.
Report quotes him as saying the government supports the development of the renewable energy sector by practically eliminating all taxes on the import of relevant equipment and technologies, while playing a key role in stimulating demand through incentives and fiscal measures.
"For example, if the state provided benefits through an energy efficiency fund or other mechanisms for small companies consuming a certain share of energy, they would be interested in investments. Of course, this should be accompanied by favorable financial regulation conditions. To achieve such changes, it is necessary to combine the efforts of the government, financial institutions, and investors," he noted.