By Tiana Cole | HGP Nightly News|
GEORGETOWN, GUYANA — In a keynote address at the 2026 Guyana Energy Conference and Supply Chain Expo, Prime Minister Mark Phillips underscored the government’s “dual responsibility” to fuel the nation’s rapid economic expansion while safeguarding its world-class natural heritage. Anchored in the Low Carbon Development Strategy (LCDS) 2030, the government has earmarked a record $119.4 billion in the 2026 National Budget to transform the energy grid into a diverse, resilient, and environmentally responsible system.
The Prime Minister emphasized that this transition is not merely about increasing capacity but about ensuring that energy is reliable, affordable, and clean.
The Gas-to-Energy Project: A 600MW Vision
Central to the government’s energy agenda is the flagship Gas-to-Energy project at Wales, West Bank Demerara.
- The Timeline: The first 300 megawatt (MW) natural gas-fired plant is on track to be commissioned by the end of 2026, despite initial construction delays.
- The Scale: A second 300MW phase is also in the pipeline, bringing the total capacity to 600MW.
- The Impact: This project is projected to slash domestic electricity costs by 50%, providing immediate financial relief to Guyanese households and making local manufacturing globally competitive.
A Diversified Renewable Portfolio
Beyond natural gas, the Prime Minister detailed massive investments in renewable energy to power both the coastland and the hinterland:
- Hydropower: Renewed development of the 165MW Amaila Falls Hydropower Project remains a cornerstone of the renewable push, with the government aggressively pursuing new financing and construction partners.
- Solar Expansion: The strategy includes 100MW of new solar power and the installation of 10 additional solar mini-grids to benefit over 6,200 households in riverine and remote communities.
- Energy Equity: Upgraded distribution networks will ensure that the benefits of the “energy hub” reach Mabaruma, Matthews Ridge, and Port Kaituma.
Carbon Credits: Financing the Green Future
Prime Minister Phillips highlighted Guyana’s pioneering role in the voluntary carbon market as a model for forest-rich nations.
- The Deal: Under a landmark US$750 million forest carbon credit agreement with Hess Corporation, Guyana is being compensated for its ecosystem services.
- Amerindian Development: At least 15% of all revenues from these carbon credits are channeled directly to Amerindian communities to fund village sustainability plans, including infrastructure and livelihood projects.
- LCDS 2030: These funds are the primary engine driving the transition to clean energy, ensuring that oil revenues aren’t the only source of development capital.
The Role of the Private Sector
The Prime Minister invited “responsible investment” that aligns with national priorities. He stressed that the government welcomes partnerships that are transparent, mutually beneficial, and grounded in a long-term vision.
To support this, the 2026 budget continues to fund the GOAL (Guyana Online Academy of Learning) platform and the University of Guyana to prepare a workforce of engineers and policy experts capable of managing this complex energy matrix.
“We must therefore pursue a dual responsibility… to grow our economy and to protect our environment. Our approach is therefore grounded in balance,” Prime Minister Phillips concluded.
