Govt partnering with GGGI to roll out rooftop solar project by 2019
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DPI, GUYANA, Tuesday, March 6, 2018
The Government of Guyana in collaboration with the Global Green Growth Institute (GGGI) will be undertaking a project in rooftop solar for commercial and industrial use. This was disclosed by Deputy Director of the Institute’s Energy, Investment and Policy Division, Carol Litwin.
Litwin, speaking prior to the opening of a renewable energy workshop hosted by the Department of the Environment and the GGGI, said the institute will be working with the private sector and exploring options for financing.
Deputy Director of the GGGI’s Energy, Investment and Policy Division, Carol Litwin in conversation with Department of the Environment Head, Ndibi Schwiers.
The aim is to source financing before the end of 2018 to commence the rollout of the project. A meeting with the private sector is slated for Thursday, the second day of the workshop, where several financial models will be presented.
The Government, she noted, has requested that the GGGI look at longer-term options on a utility scale and to secure climate finance to support solar in the hinterland.
“We are hoping to have financiers for the first set of rooftop solar. We’re hoping to have a commitment by the financiers by the end of the year… the rollout will happen after the commitment of the financiers, so first we need to find the projects and work with the private sector then we bring those projects to the financiers they approve it, so next year [2019] it will be rolled out.”
Further, Litwin said they are looking at small and medium-sized enterprise (SME) financing through an established fund through which commercial and industrial customers can access long-term financing at affordable rates.
Another option is known as the leasing model, which requires the customer to sign a purchase or rent agreement with a leasing company, eliminating operations and maintenance, simply the monthly fee.
She highlighted that Guyana can benefit greatly from its resources. “This is a country that is endowed with water, oil and gas, good sun and also wind and I think there is a need to diversify energy security not only just to rely on diesel and oil, which is high cost.”
GGGI, Litwin added believes that it can contribute to reducing the energy cost in Guyana.
By: Stacy Carmichael