With $110M project…Berbice company goes 100 percent solar

Jan 16, 2017 News

The Nand Persaud Group of Companies on Friday held their launching ceremony for their innovative and development-friendly Green Energy System at Nand Persaud International Communications Inc. (NPIC) Tain, Corentyne. NPIC is the first major company to have gone 100 percent solar in Guyana and the project is said to have cost some $110 Million.
Prime Minister, Moses Nagamootoo congratulated the directors of the company for their venture. He posited that while the company going solar was as a result of scientific and technological advances, the Nand Persaud Group must be hailed for their diversity in investments, ranging from rice, marketing
and now, renewable energy.
Nagamootoo stated that the investment into solar energy is a “revolution”. He underscored that an investment of such magnitude paves the way for other investors. He also reiterated Government’s plan to power various parts of the country with renewable energy.

Some $250 Million is earmarked to get the ball rolling.Meanwhile, Minister of Business, Dominic Gaskin also congratulated the Nand Persaud Group of Companies on moving to solar energy. Minister Gaskin stressed that “People need to practice a more conscious consumption. Our
businesses need to invest in value added production.”

PM Nagamootoo (left) at the launching

One of the panels

“I must commend the company for the launch of the green energy system, we hear very often the cry of businesses about the cost of energy in Guyana, and the negative impact on the cost of operating a business in Guyana. Today we see the implementation of renewable energy to power its operations.”
Ragindra Persaud, the Chief Executive Officer of the Nand Persaud International Communications Inc., stated that the company decided to make the move to solar energy because it is now a “cost efficient” investment.
“Recently with the global drive for solar power, we have started to decide to invest in solar energy, Over the past years, solar has become very, very competitive, the prices are going down, the technology is getting better …” Persaud highlighted that as of now, the usage of solar energy is at two percent, but noted that the figure is expected to grow by 25 percent in the next ten years. The system, he indicated will be available to all Guyanese since it is on the agenda to partner with the company that installed it.

Members of the head table (from left – Managing Director Darren Ramdial, Regional Chairman David Armogan, Minister of Business Dominic Gaskin, Prime Minister Moses Nagamootoo, CEO NPIC Ragindra Persaud and Norwegian Consul Desmond Sears

Prime Minister Moses Nagamootoo views one of the solar panel

Persaud explained that the 12000 square feet of solar panels is a 220 Kilowatts solar system that cost some US$528,000. “It generates roughly 1000 kilowatts of power on a daily basis, so you save $50,000 per day”.
He stressed that using such a system can make “businesses very
competitive,” and that it also allows the investment into the business to be recovered in three to five years.
“What we have now, we consume approximately 70 percent of the power we produce, 30 percent goes to GPL and to date, we have been giving them for free,”
Meanwhile, Regional Chairman Mr. David Armogan in expressing his sentiments stated that “The Nand Persaud Group of Companies understands diversification in this country. Renewable energy is crucial for the prosperity
of our country, it should be beneficial to our environment.”
He also commended the company on such a positive move. The Norwegian Consul, Mr. Desmond Sears, also remarked that,
“Nand Persaud and Companies continues to prove to all that green economies are not based solely on the heels of sacrifice
but also the idea of growth, It is time to move away from the fear of the idea of green protectionism “.
A brief history of the company was provided by the Managing Director of NPIC Mr. Darren Ramdial.
In attendance were representatives from various businesses in Berbice and other parts of the country. Former Prime Minister of Guyana, Samuel Hinds also graced the occasion.