PM Phillips reaffirms Guyana’s commitment to clean energy transition at OLADE meeting

Prime Minister, Brigadier (Ret’d), the Honourable Mark Phillips reaffirmed Guyana’s ongoing commitment to sustainable energy development through its Low Carbon Development Strategy (LCDS) 2030, during his address at the 54th Meeting of Ministers of the Latin American Energy Organization (OLADE) in Paraguay today.

He noted that since the 2015 discovery of oil, Guyana has rapidly expanded its energy infrastructure. However, he emphasised that this growth is balanced by the Government’s commitment to sustainability, as reflected in the development of Guyana’s LCDS 2030.

The Prime Minister highlighted the country’s transformative approach to energy that seeks to reduce reliance on imported fossil fuels, by diversifying energy sources and ensuring affordable, reliable energy access for all Guyanese.

The country’s focus, he noted, is to integrate renewable resources such as solar, hydro, wind, biomass, and natural gas to meet growing energy demand, while keeping emissions low.

“Our journey to achieve a low-carbon economy and advance the transition away from conventional energy sources has been steady, with significant progress.”

He said too that a significant part of Guyana’s clean energy initiative is the construction of a 300 MW combined cycle gas turbine power plant, connected by a 200km subsea pipeline. “This represents the single largest investment made in the electricity sector and the single largest Engineering, Procurement and Construction (EPC) contract undertaken. This project, scheduled for completion in 2025, will directly cut emissions from electricity generation by 70 per cent and significantly reduce energy costs by 50 per cent, leading to major economic development initiatives in Guyana.”

Further, He told the energy ministers that the Government of Guyana has also launched a request for an additional 250 MW combined cycle gas power plant and a 6,000 barrels-per-day natural gas liquid facility to be developed under a long-term power purchase agreement. Another major project is a planned 165 MW hydropower plant, which will be developed by an independent power producer model, to further strengthen Guyana’s renewable energy portfolio.

Prime Minister Phillips shared significant gains in renewable energy capacity, reporting a 224% increase in solar power from 2020 to 2024, through investments in solar photovoltaic (PV) technology, mini-grids, and utility-scale solar farms, which have boosted installed renewable capacity to 17.37 MW. With the planned commissioning of an additional 46.4 MW in solar PV within the next three years, the Government is also expanding energy access to off-grid areas, especially in the Hinterland, through new solar installations and micro-grid developments.

In support of e-mobility and energy conservation, the Government has eliminated taxes on electric vehicles and established six public EV charging stations across the country. “This effort is aimed at catalysing e-mobility adoption and contributing to sustainable transportation.”

Further, he highlighted the government’s successful LED Lighting Project, which replaced inefficient lighting in households, businesses, and public buildings with over 63,000 LED bulbs, promoting sustainable energy consumption, while reducing the nation’s carbon footprint.

Prime Minister Phillips also underscored the importance of partnerships with regional and international stakeholders to drive clean energy development and enhance climate resilience across Latin America.

“The Government of Guyana reiterates our valued relationships with regional and international partners and will continue to support and promote clean energy development.”

In Paraguay, the International Renewable Energy Agency highlighted its support for Guyana’s Solar City Simulator project, a web-based application helping households, businesses, and municipal authorities evaluate prospects for rooftop solar PV systems, led by GPL.

The 54th Meeting of Ministers of Energy is part of the IX Energy Week taking place in the city of Asunción from October 28 to November 1, 2024.