Latest update November 17th, 2024 1:00 AM
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- Guyana received US$5.4B in royalty, profits from 500M barrels pumped to date
- Final audit report of Exxon’s US$7.3B expenses sent to company, to be made public next week – Minister Bharrat
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US$83.3M to fund 34MW of solar power for Essequibo, Berbice and Linden
Kaieteur News – The Inter-American Development Bank (IDB), through the Guyana-Norway arrangement, has approved up to US$83.3 million to be used to construct solar plants to supply 34 megawatts of power to Essequibo, Berbice and Linden.
[Photo credit: Power Technology]
The projects will be executed by the Guyana Utility Scale Solar Photovoltaic Program (GUYSOL). GUYSOL will invest in eight utility-scales photovoltaic solar projects totaling 33 megawatts peak (MWp), with associated 34 megawatt hour (MWh) energy storage systems that will be distributed across three areas in the country.
The eight projects will be done at eight sites: two in Region Two, three in Region 10, one in Region Five and two in Region Six. It was stated that 10MWp will be invested for the Berbice area, an 8MWp plant in the Essequibo system with a minimum of 12MWh battery storage and 15MWp plant connected to the Linden system, with a minimum of 22MWh battery storage.
Notably, the programme will also support a step-change to the digitalization of Essequibo and Linden electrical systems – which will move them from manual systems towards real-time, automated monitoring and control – improving efficiency, reliability, and stability.
The IDB noted that the projects will contribute to avoiding CO2 emissions, lowering electricity cost generation, and supporting a substantial transition to generation based on renewable energy sources.
Moreover, alongside the investment into infrastructure, the GUYSOL Programme will encourage diversity and inclusion in the maintenance and management of renewable infrastructure, developing local skills and apprenticeships with a focus on opportunities for women.
It was stated that by 2025, in line with Guyana’s Low Carbon Development Strategy (LCDS), more than 265, 000 customers within the Demerara-Berbice Interconnected System(DHIS) and Linden and Essequibo systems will benefit from reinforced reliability of electricity supply, and modernization of systems.
Also, the Guyana Power and Light Inc. (GPL) and the Linden Electricity Company Inc. (LECI) will also benefit from the use of solar photovoltaic technology that will displace significant amounts of fossil fuels and reduce generation costs.
The IDB noted in its statement that the aforementioned operation is in line with Vision 2025 – Reinvesting in the Americas: A Decade of Opportunities that was created by the international bank to achieve recovery and inclusive growth in Latin America and the Caribbean, in the areas of digital economy, gender and inclusion, and climate change.
Additionally, it was stated that the IDB has been supporting the Government of Guyana to develop the energy sector through financing of several renewable energy activities. It stated too, that Guyana will now make a transformational leap towards decarbonization by expediting climate-resilient renewable energy in the electricity generation matrix.
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