80% of Mauritius energy is derived from burning imported fossil fuels which is costly and has increased green house gas emissions by 20% since 2000. The government is committed to reducing the dependency on fossil fuel for economic and environmental reasons.
The country recently embarked on the Sustainable Island Programme fund worth US$ 40 million to support the protection of environment through recycling and encouraging more efficient use of renewable energy.
Mauritius plans to double the share of renewable sources of energy to produce electricity to around 40% within the next decade. There are intentions to explore local sources of renewable energy in the form of wind farms, solar panels, burning solid waste and land fill gas, and air-conditioning from the Land Based Oceanic Industry (LBOI) .
- Investors are welcome to produce renewable energies or manufacture related equipments and components.
- The country acceded to the Kyoto protocol in 2001 and therefore investors producing renewable energies have the opportunity to trade their carbon credits, and Carbon Credit Consulting firms to assist them in the process
- The Government is also supporting Green Building Initiatives, where buildings that are energy positive are being promoted. Consulting firms specialising in this domain are welcome to take advantage of this business opportunity.
Investment value: French development finance institution Agence Française de Developpement (AFD) projects investment potential to the tune of US$ 100 million over the next 5 years in the field of energy and renewable energies in the country.
Source: TradeInvest Africa Image:TradeInvest Africa