Guyana prime minister urges region to plan long-term energy strategies

Mark Phillips told OLACDE Energy Week that Guyana has raised installed renewable capacity by 623 per cent since 2020.

By SKN Daily StaffTuesday, 27 October 20261 min read

GEORGETOWN, Guyana. Guyana's Prime Minister Mark Phillips has called on Latin American and Caribbean countries to strengthen regional cooperation and adopt long-term energy strategies to meet future demand sustainably.

Speaking at the 11th OLACDE Energy Week, he said economic growth, industrialisation, urbanisation and digital development will increase electricity needs, and that governments must plan for rising demand, climate risks and technological change rather than focus only on immediate requirements.

"The energy system of the next decade must be more diversified, more resilient, more efficient, more digital and increasingly low carbon. This requires us to plan not only for today's needs, but for the economy and society we expect to have 20 or 50 years from now," he said.

Oil and forests

Phillips highlighted Guyana's Low Carbon Development Strategy 2030, which promotes an energy mix including natural gas, hydropower, solar and wind while balancing growth with environmental protection.

"Guyana is an emerging oil and gas producer and, simultaneously, a country with approximately 85% forest cover and a long-standing commitment to low-carbon development," he said.

"We do not regard these realities as contradictory. Rather, our responsibility is to manage our natural resources strategically and sustainably, and to use them to accelerate national development and the transformation of our energy system."

Renewable capacity

Phillips said Guyana invested or committed GUY$37.7 billion in renewable energy projects between 2020 and 2026, increasing installed capacity by 623 per cent, from 5.35 MW to 38.72 MW.

The projects include solar farms, mini-grids, hydropower plants and solar systems for homes and public buildings. Capacity is projected to reach 77.14 MW by 2031.

He added that natural gas will help reduce reliance on imported fuel, strengthen energy security and lower electricity costs, while renewable energy and battery storage continue to expand.