$794.1M committed to energy interventions over next three years

The government has set aside some $794.1 million for the implementation of key renewable energy interventions to meet the energy demands in the short and long term.

The interventions include installing 21 additional solar mini-grids over the next three years, benefiting 240 public and community buildings across Regions One, Three, Four, Seven, Eight, Nine, and Ten.

Prime Minister Brigadier (Ret’d) Mark Phillips has explained that Guyana’s energy transformation extends beyond immediate electrification initiatives.

His remarks on Thursday kicked off day three of the 2025 Guyana Energy Conference and Supply Chain Expo at the Marriott Hotel in Kingston, Georgetown.

“Our government has committed $791.4 million in capital renewable energy interventions. In line with this, four new mini-grid solar PV systems are scheduled for completion in 2025 at Paramakatoi in Region Eight and at Nappi, Awarewanau, and Yupukari in Region Nine, ensuring renewable power reaches health centres, schools and community ICT hubs,” the prime minister said.

He said the Guyanese people were promised affordable, stable and reliable energy when the PPP/C government returned to office in 2020.

As part of the commitment, the administration crafted a comprehensive strategy to diversify the energy mix to include natural gas, solar, hydro and wind power.

Between 2020 and 2024, some $7.9 billion was invested in these renewable energy interventions, and Guyanese are seeing the results of this injection in transformative ways.

“A one-megawatt solar PV farm in Lethem has generated over 3,000 megawatt hours of renewable energy, saving some 5,000 drums of diesel and avoiding more than 2500 tonnes of carbon dioxide emissions. The Bartica solar PV farm and Mahdia grid-forming solar project have similarly delivered significant reductions in fossil fuel dependency,” PM Phillips pointed out.

He also spoke of the Moco Moco and Kumu hydropower projects in Region Nine, the ‘30,000 solar home systems’ project, which sees 30,000 homes in hinterland communities receiving 150-watt solar PV systems, and the landmark gas to energy project, which will harness offshore natural gas reserves to generate 300 megawatts of electricity.

The United States Export-Import (EXIM) Bank recently granted final approval for a $526 million loan for the project, following an independent technical and environmental feasibility study.

These financial resources will fund about 25 per cent of the project.

“In addition, we have Utility Scale Solar Projects amounting to some 34.35 megawatts of solar capacity that is being developed in Wakenaam, Leguan, on the Essequibo coast, Berbice and at Linden,” the prime minister added.

Each of these investments represents tangible life-changing improvements for families, small businesses and communities, the PM stated.

The Guyana Energy Conference connects local businesses with international partners to foster collaboration and investment.

It is being held from February 18 to 21 under the theme: Connecting the Dots: Integrating the future.

The prime minister reminded that this year’s theme is fitting as it aligns with the government’s drive to create an integrated energy mix through its Low Carbon Development Strategy.