In support of a green economy and sustainable development, the Private Sector Commission (PSC) and The Energy and Resources Institute (TERI) on Monday signed a Memorandum of Understanding (MoU).
Private Sector Commission Chairman Edward Boyer shakes the hand of TERI Director General Ajay Mathur
The MoU, which will be binding for three years, allows for TERI to assist the PSC in the sustaining of green growth, conducting energy performance audits, sharing research and technology, exploring renewable energy options for business, and establishing linkages with Private Sector entities in India.
It also allows the local Private Sector to explore collaborative efforts in other areas of mutual agreement.
TERI’s assistance to the PSC would be supported through the company’s partnership with Energy Efficiency Services Limited, a Government of India Joint Venture Company.
The PSC has established a partnership with the global company, which has been offering technical support to the Government for the past five years in the promotion of energy efficiency and renewable energy.
TERI has assisted the Guyana Sugar Corporation (GuySuCo); Guyana Rice Development Board (GRDB); Guyana Power and Light Company (GPL) and Guyana Energy Agency (GEA) to yield technological and economic improvements.
It has carried out an in-depth study on the root causes associated with the increase in power consumption of large consumers of GPL and assisted in an assessment of the Moco Moco hydroelectricity project. The institute also conducted a feasibility study for establishment of a Centre of Excellence for the Study of Biodiversity in Guyana.
PSC Chairman Edward Boyer told the gathering at the signing, which was held at the Marriott Hotel in Kingston, that the Private Sector was cognisant of the need for the business community to support global efforts to combat climate change.
President David Granger, Boyer noted, has continuously affirmed his commitment to creating a green economy that is centred on the generation of renewable energy. “He has even pledged thousands of hectares of forest to conservation,” said Boyer.
“We are today signing a Memorandum of Understanding with TERI that allows us to harness technical advice and support, in areas of climate change, energy, environment and sustainable development,” Boyer remarked, adding that the subject of environmental protection was not something to which Guyanese could turn a blind eye.
He further said that the common obstruction to the expansion of the local Private Sector and the country’s competitiveness was affordable, reliable energy, noting that the high cost of energy was perhaps the greatest barrier to development and expansion of the manufacturing sector.
“While there has been temporary relief due to the current low price of oil, this situation is not expected to last. Alternative renewable, cheap and sustainable energy sources, therefore, assume greater importance and, in this area, TERI is an acknowledged global leader,” he highlighted.
According to the PSC Chairman, “we look forward to working with the members of TERI and would maintain a close working relationship. We know that we would benefit immensely from the proven knowledge and experience of this organisation”.
TERI Director General Ajay Mathur indicated that in an effort to further strengthen relationships with the Government and the PSC, TERI has decided to establish Guyana as a base from which the organisation would work in the Caribbean.
He stated that the company has appointed a representative for the Caribbean, Shyam Nokta, who he said was instrumental in TERI coming to the Region.
“TERI’s work has been well received by both the Government of Guyana and the Private Sector in Guyana and I must say on behalf of TERI that we are encouraged by the Government’s commitment to continue the partnership with TERI,” Mathur said. He added that the Government’s push towards a green economy, renewable energy, and the greening of towns and cities was admirable and a demonstration of its willingness to play a leading role as the global community moved towards urgent action to address climate change.
“I wish to assure you of TERI’s commitment to work in Guyana and to share our knowledge and expertise with the Government, the Private Sector and the people of Guyana,” the Director General declared.
