PM calls for innovative renewable energy integration in the Americas

The content originally appeared on: INews Guyana
Prime Minister, Brig, (Ret’d) Mark Phillips at the 6th Ministerial Meeting of the Energy and Climate Partnership of the Americas in Santo Domingo

Prime Minister Brigadier (Ret’d) the Honourable Mark Phillips emphasised the urgent need to integrate renewable energy sources and innovative technologies into existing energy systems across the Americas.

During his remarks at the 6th Ministerial Meeting of the Energy and Climate Partnership of the Americas (ECPA), held in Santo Domingo, Dominican Republic, the Prime Minister stressed on the critical role of renewable energy in achieving a net-zero emissions future and fostering sustainable development.

“Clean energy is at the core of Guyana’s comprehensive energy transformation and its dedication to achieving long-term sustainability objectives. It is fundamental to our commitment to environmental stewardship, social progress, economic growth, and overall human development.”

PM Phillips with other regional leaders at the ECPA Meeting in Dominican Republic

He added that the Government of Guyana has strategically adopted strong policies, cost-efficient technologies, and energy-saving solutions to ensure that Guyanese citizens have equitable and affordable access to clean and renewable energy.

This approach, according to the Prime Minister, also aims to reduce the reliance on imported fossil fuels nationwide.

In highlighting Guyana’s Low Carbon Development Strategy (LCDS) 2030, he disclosed that the Government is prioritising “innovative clean energy solutions using its natural resources. The focus is on making significant infrastructure investments to diversify and enhance the energy sector. “

A number of initiatives were also outlined, including the Government’s plan to install over 500 megawatts of new renewable energy capacity within the next five years, which would include solar PV, hydropower, and wind projects. Additionally, he highlighted the 300MW natural gas-to-energy power plant, the 165MW Amaila Falls Hydropower Project, and the addition of 33MW of utility-scale solar power as key steps towards reducing carbon emissions and reliance on fossil fuels.

Prime Minister Phillips also noted the importance of exploring innovative energy storage solutions to ensure a stable energy supply and enhance the energy infrastructure’s resilience.

He identified battery storage and other storage solutions as critical methods to store surplus energy during high production periods and release it during peak demand. The Guyana Utility-Scale Solar Photovoltaic Programme (GUYSOL) was cited as an example of innovative solutions being implemented in Guyana, which includes solar PV systems and battery storage facilities.

Technology

During his remarks, the Prime Minister also noted the importance of technology platforms in integrating renewable energy into existing infrastructure and said that “now is the time to seek solutions that will help us to utilise advanced grid management systems, smart technologies, and data analytics to improve the efficiency and reliability of our energy systems.”

In this regard, he also discussed the relevance of financial innovation noting the necessity of digital platforms to support the creation and execution of innovative financing models for renewable energy projects.

“Financial technologies attract investments, decrease capital costs, and expedite the adoption of sustainable energy solutions. As in all things, financial innovation is key to expanding renewable energy projects and making them economically feasible on a larger scale.”

Collaboration

Prime Minister Phillips stressed the need for regional collaboration to accelerate the energy transition in the Americas.

“The focus on private involvement is deemed fundamental in realising a shared vision for a future characterised by durability, efficacy, and ecological mindfulness. Moreover, the dedication to enhancing regional cooperation networks and frameworks acknowledges the interconnected nature of energy challenges in the Americas.”

He noted too, the crucial role of public-private partnerships in identifying opportunities, addressing challenges, and fostering innovative solutions in sustainable development and energy transition.

Prime Minister Phillips reiterated Guyana’s commitment to global efforts to address climate change and promote sustainable energy and called for tangible outcomes from the ECPA meeting.

“The challenges of climate change make our vision more than mere dreams but a roadmap for collective efforts, guiding the intricate paths of the energy transition.”

The 6th ECPA Ministerial Meeting, which concluded today, was held under the theme “Renewable Energy in the Americas: Innovation and Integration”. (DPI)