Renewable energy capacity surges 623%, set to nearly double by 2031 – PM Phillips

Guyana’s installed renewable energy capacity has increased by 623 per cent since 2019, with further expansion expected by 2031, Prime Minister Brigadier (Ret’d) Mark Phillips has disclosed, as he called for greater regional collaboration on long-term energy planning.

Phillips made the remarks during a Ministerial Dialogue at the 11th Latin American and Caribbean Energy Organization (OLACDE) Energy Week in Santo Domingo, Dominican Republic, on Thursday.
He said countries across Latin America and the Caribbean must develop energy systems capable of meeting rising electricity demand while addressing climate-related risks and rapid technological advancements.
The Prime Minister noted that economic growth, industrialisation, urbanisation and digitalisation will increase the region’s energy requirements in the coming years, requiring governments to plan beyond immediate generation needs.
“The energy system of the next decade must be more diversified, more resilient, more efficient, more digital and increasingly low carbon,” he said, adding that planning must account for the economic and social needs of the next 20 to 50 years.
Highlighting Guyana’s approach, Phillips reaffirmed the Government’s commitment to the Low Carbon Development Strategy (LCDS) 2030, which guides the development of a diversified energy supply that includes natural gas, hydropower, solar, wind and other technologies.
He said Guyana’s status as an emerging oil and gas producer, alongside its approximately 85 per cent forest cover and commitment to low-carbon development, requires the strategic and sustainable management of its natural resources.
“We do not regard these realities as contradictory. Rather, our responsibility is to manage our natural resources strategically and sustainably, and to use them to accelerate national development and the transformation of our energy system,” Phillips said.
According to the Prime Minister, renewable energy projects implemented or committed between 2020 and 2026 represent investments of G$37.717 billion. Over that period, installed renewable energy capacity increased from 5.35 megawatts (MW) in 2019 to 38.72 MW in 2026.
The initiatives include 13 utility-scale solar photovoltaic farms, 57 solar mini-grids, three hydropower plants, 37,730 solar home energy systems and 239 rooftop solar photovoltaic systems installed on public and community buildings.
Based on projects committed through 2031, Guyana’s installed renewable energy capacity is expected to reach 77.14 MW, almost double the 2026 level.
Phillips also underscored the role of natural gas in replacing more carbon-intensive imported fuels used for electricity generation, improving energy security and supporting lower electricity costs. Renewable energy development and battery storage are also expected to expand.
On technological advancements, he highlighted the importance of modernising electricity grids and using digitalisation and artificial intelligence (AI) to improve energy planning, demand forecasting and predictive maintenance.
However, he cautioned that the expansion of AI and data centres would increase electricity demand, requiring additional investment in cybersecurity, data governance and technical expertise.
The Prime Minister also stressed that the energy transition must deliver tangible benefits to communities, particularly those in hinterland and riverine areas.
He said Indigenous communities, vulnerable households, workers and businesses must have access to reliable and affordable energy, alongside opportunities for employment, enterprise development and skills training.
Phillips added that decentralised renewable energy systems were already supporting improvements in education, healthcare, communications, entrepreneurship and local economic activity.
On regional cooperation, he called for continued collaboration through OLACDE, particularly in developing innovative financing solutions, building climate-resilient infrastructure and expanding energy interconnection where feasible.
He reaffirmed Guyana’s commitment to working with regional partners to advance an energy agenda that balances economic transformation, environmental sustainability and improved livelihoods.