Guyana Energy Agency’s CEO Dr Mahender Sharma says the country can achieve its goal of transitioning to almost 100% renewable energy generation by 2040.
This can be done, he says, with adequate finances and a significant boost in technical and human resources.
Dr Sharma believes this will allow for a more reliable and stable grid and creation of a massive dent in the country’s fuel import bill.
The Guyana Chronicle reports that approximately 18% of the country’s primary energy supply is derived from renewable energy – predominantly in the form of bagasse, firewood and solar PV.
It adds that the remaining 82% is sourced from imported fossil fuel – primarily diesel, heavy fuel oil and gasoline.
On average, approximately 1,836,300 barrels of fossil fuel are used to generate electricity annually, and according to Dr Sharma, this translates to an estimated US$139.30 million on a yearly basis, based on the average consumption between 2015 to 2018.