The Renewable Energy & Energy Efficiency Market Opportunities in Guyana Engagement Session
The Barbados Renewable Energy Association (BREA) partnered with the Green Guyana Expo and International Small Business Summit to host an engagement session on the growing green energy market opportunities becoming available in Guyana. The engagement session which took place on Tuesday August 7th, 2018 at the Baobab Towers Complex provided the Association’s membership with a first-hand opportunity to learn about the newly emerging business opportunities developing in the country’s green space.
With an expected GDP growth of 3.54% Guyana, is a country on the rise. The recent exploration of oil in that country is expected to bolster a greater number of economic prospects in the oil and trans-shipment sectors. However, of significant importance is that under the leadership of the President of Guyana, his excellency Mr. David Grainger, a policy directive has been articulated to transition Guyana to a Green State by 2030.
Mr. Eric Phillips, Chair of the Green Guyana Expo and International Small Business Summit articulated to the workshop attendees that it is the current administration’s vision that “Guyana will have an oil sector but not an oil economy given that the revenue generated from oil will be used to fund the growth and development of a Green Economy across Guyana.” He made specific mention of Government’s plans to create a Sovereign Wealth Fund as well as a Green Fund to assist in the country’s transition to becoming a Green State.
The engagement session which was well attended by the Association’s members gave over thirty (30) private sector companies, many of which included small businesses, the opportunity to interact and engage with Mr. Eric Phillips on the Green Energy Market Opportunities arising in Guyana as a result of their Government’s commitment to transition Guyana to a Green State.
Additionally, workshop participants were also able to learn about the policy directives and measures helping to shape Guyana’s transition towards a Green State. This included discussions on the country’ nationally determined contributions committed under UNFCCC, the 2017 Energy Transition Roadmap and the country’s proposed Green State Development Strategy.