The government of Guyana has approved more solar energy project development contracts.
In an official statement the country’s cabinet said contracts worth GYD46 million ($220,000) have been approved for grid-connected and hybrid solar PV systems being developed by Gafsons Industries Limited in the regions of Upper Demerara-Berbice and Potaro-Siparuni.
The government also approved GYD159 million of contracts for solar mini-grid projects under development by the Hinterland Electrification Company, which has been carrying out the Unserved Areas Electrification Program since 2004.
The Georgetown authorities said the new investments will add to commitments made in June by the Norwegian government, which approved the transfer of GYD16 billion from its Climate Mitigating Ministry to finance 30 MW of solar generation capacity plus a storage element.
According to the latest statistics published by the International Renewable Energy Agency, Guyana had installed PV capacity of only 10 MW at the end of last year. Most of that was made up of distributed generation systems. Rooftop arrays benefit from net metering payments which enable the sale of excess power to the grid.
Guyana’s ambitious Low-Carbon Development Strategy aims to meet all power demand from renewables by 2025 and will require the replacement of 200 MW of thermal power generation capacity.