PM Phillips highlights Guyana’s ambitious energy diversification plan

Source: www.gulfoilandgas.com 11/10/2023, Location: South America

Guyana’s ambitious energy diversification strategy that will revolutionise the nation’s energy landscape was highlighted by Prime Minister Brigadier (Ret’d) Mark Phillips in his address at the 53rd Meeting of Ministers of the Latin American Energy Organisation (OLADE) this week.

PM Phillips who holds responsibility for the country’s energy sector, explained that the energy plan aligns with the objectives of the expanded Low Carbon Development Strategy (LCDS2030), which seeks to bring greater economic and social development through a low-carbon development pathway that also addresses issues relating to climate change.

The government, PM Phillips emphasised, is committed to achieving a low carbon economy and advancing the transition to renewable energy development which is a national priority.

Renewable resources from the gas industry will also play a crucial role in diversifying the nation’s economy to ensure energy, food, and climate security.

“We are advancing a diversified energy supply matrix to cater for Guyana’s current energy needs and the rapid growth in demand anticipated in the medium and long term,” the prime minister stated.

Guyana’s energy matrix integrates hydropower, natural gas, solar, and wind resources, adding 500 megawatts (MW) of new generating capacity for residential and commercial users, in keeping with the government’s pledge to ensure affordable, stable, and reliable energy.

PM Phillips further noted the progress in reviving the 165 MW Amaila Falls Project with new proposals and funding from the Guyana REDD+ Investment Fund for solar farms amounting to 33 MW under the GUYSOL programme.

Guyana’s hinterland regions are not excluded, as the administration is keen on delivering clean, renewable power to those residing in the hinterland regions. These include the 19 solar PV-powered mini-grids that will benefit 3,880 households and over 20,000 individuals.

“These mini-grids will contribute to essential social, healthcare, and education facilities, raising the nation’s overall installed solar capacity to more than 13 MW. A large-scale electrification project was also highlighted, which provides some 30,000 Solar PV Home Energy Systems for remote areas, to introduce renewable electricity to previously unserved homes, benefiting an estimated 136,863 individuals in 245 communities,” a statement from the Office of the Prime Minister disclosed.

The prime minister also explained that Guyana remains committed to energy integration and cooperation initiatives with neighbouring states, pointing to the regional energy collaboration between Guyana, Suriname, Brazil, and French Guiana.

The five-day OLADE meeting is taking place in Montevideo, Uruguay.


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