Australian company exploring Guyana’s renewable energy capability
The re-implementation of the Low Carbon Development Strategy (LCDS) is attracting foreign interest, which can propel Guyana’s renewable energy agenda.
Fortescue (FMG), an Australian company and a global leader in the iron ore industry, is one of the companies seeking to explore renewable energy opportunities in Guyana.
Guyana Office for Investment (GO-Invest) Chief Executive Officer (CEO), Dr Peter Ramsaroop, in an interview with the Department of Public Information (DPI) on Wednesday, said the company was seeking to establish operations in three countries and has shown a keen interest in Guyana.
During a recent visit to Guyana, Fortescue discussed the harnessing of renewable energy under the Amalia Falls Hydropower Project to produce green-energy products such as ammonia, hydrogen, fertilisers and metals for both the local and foreign market.
“They are looking to re-enter Guyana in the first quarter for further studies and development. These projects are large projects, it is not just about the development of the Amaila Falls Project, but it is looking at large-scale operation that requires renewable energy to produce an output. So, it is not a quick fix; it is a fix that has to be well-studied and they are moving to that next step,” he said.
Dr Ramsaroop also said the coalition’s Green State Development Strategy: Vision 2040 did not provide any insight into the future of renewable resources, whereas the LCDS, crafted by then President Bharrat Jagdeo, was instrumental in securing the Guyana REDD+ Investment Fund (GRIF).
Vice President Jagdeo, at his last press conference in November, said the LCDS would be the main document guiding the country’s climate actions. The LCDS would also be expanded in the areas of biodiversity, water management and other sectors. Jagdeo added that the Government was creating a coordinated and efficient mechanism to deal with all climate and environment-related issues.
Additionally, Prime Minister, Brigadier (ret’d) Mark Phillips said Government intended to complete the Amaila Falls Project in keeping with its plan to provide a cheaper and more reliable power supply to the nation. The Prime Minister made this statement during the debate on Budget 2020.