Guyana can incorporate renewable energy into mining process, operations

Dear Editor,
It is estimated that the global mining industry consumes 400 terawatt-hours of energy per year, the equivalent of the yearly energy demand of France. A large portion of that energy is consumed in mineral-rich Latin America, home to the world’s largest deposits of copper, silver, lithium, and gold.
The mining sector in this part of the world, a multi-billion-dollar industry, has increasingly been turning to renewable energy to help meet its energy demand. In order to alleviate these issues, mining companies are increasingly turning to ever cheaper solar PV and wind power to meet their power requirements, reduce their greenhouse gas emissions, and lower their operating costs.
Renewable energy from non-conventional sources here in Guyana has been gaining momentum and proving to be a viable alternative energy solution. For example, power generated by solar plants has become very competitive compared to traditional forms of power, especially in the hinterland, where several regions have benefited from excellent levels of untapped solar irradiation. Solar PV technology has seen dramatic cost reductions over the past decade, and this has been combined with efficiency innovations that have led to pricing levels that have reached even less than 50% of conventional power costs.
Moreover, solar PV (and wind in certain regions) is also reaching cost levels that are half the cost of conventional hydro power. These changes are leading to increasing investment in solar energy to displace conventional power.
Guyana’s gas-to-energy project would definitely bridge oil and gas, which is set to see development of new sectors and boost local traditional industries; however, by incorporating solar energy, a unique opportunity is offered for Guyana’s mining companies to meet their energy needs in a sustainable, reliable, and cost-effective way.
Solar is no longer just about being sustainable, it’s a way for mining companies to stay competitive in an industry where cost reductions are critical. By 2022, energy from renewable sources would account for between 5% and 8% of the global mining industry’s power consumption, with more ambitious targets aimed at 15%. This drive towards renewable sources would lead to the global capacity being tripled by 2027.
Our PPP/C Government’s gas-to-energy agenda envisions the transmission of cheap, reliable, and clean energy not only for domestic use, but for processing, manufacturing, and other value-added downstream activities. Integration of renewable energy in this respect would make Guyana a power hub for a variety of industries and new investors, with Guyana already being a dynamic and integrated economy with renewable energy, coupled with oil and gas. Our emerging hydrocarbons economy would allow growth of our local private sector with a great influx of foreign investment, since energy would be cheap. The renewable energy sector around the world continues to attract investors this year. The technologies and the capital are available to accelerate the energy transition, but global transformation from fossil fuels to clean energy is not moving forward quickly enough. Our Government must be the first to adjust our institutional and regulatory frameworks to pave the way for the necessary foreign private investor to get the job done here in Guyana.

Sincerely,
David Adams