Diversification in energy sector will help Guyana realize green economy dream – U.S. Ambassador

Must Read

OilNOW is an online-based Information and Resource Centre

While the plans of the People’s Progressive Party/Civic (PPP/C) administration to pursue regulatory reform for the oil sector while simultaneously improving the energy grid is indeed commendable, U.S. Ambassador to Guyana, Sarah-Ann Lynch, is of the view that diversification in the energy sector will help Guyana fulfill its dream of a green economy.

During her presentation at the virtually held Guyana Oil & Gas Summit, the envoy noted that the Irfaan Ali administration has already shown signs that it intends to head in this direction as it committed to creating an additional 400 MW of power generation within the next five years. She recalled as well that the Minister of Public Works, Juan Edghill, has also disclosed that solar energy parks and micro-grids will be part of the Government’s plan for hinterland community development.

Pointing to another praiseworthy aspect of these efforts, the Ambassador said that the Guyana Energy Agency recently signed a deal for two solar farms in Lethem and Bartica which will provide much-needed energy for those areas.

These efforts she said will also help Guyana address one of its biggest development obstacles, which is the cost of energy. In this regard, the Ambassador said that Guyana’s energy generation is largely fossil fuel-based, with power plants utilizing heavy fuel oil. She also outlined that the cost of electricity is USD$0.32 per KWH, which is significantly higher than Guyana’s South American neighbors but about average for the Caribbean.

Taking this into account, the official said, “…If Guyana can take advantage of the natural gas that emits from the oil wells, it can bring down the cost of energy two-fold, which will make a difference in the lives of every Guyanese citizen.”

The Ambassador was keen to note that these are all sweeping changes while noting that it will be crucial for the government, in concert with international partners, the private sector, and civil society to get it right. The envoy said that the United States is committed to lending a helping hand to ensure Guyana’s prosperity is guaranteed for all Guyanese.


Partnered Events

Latest News

Guyana implements new policy, boosting advantage for locals in oil sector

Guyanese companies in the oil sector just got a major boost. A new policy now requires that companies evaluating...

More Articles Like This