Funding to Improve Guyana's Power System and Energy Efficiency

A $64.573 million program to enhance operational efficiency of Guyana Power & Light, improve corporate performance, fund infrastructure investments and reduce energy waste has been instigated.

The Inter-American Development Bank (IDB) has approved loans totaling approximately $37.6 million and has also secured non-reimbursable investment financing from the European Union totaling approximately $26.9 million to help boost the efficiency and reliability of Guyana’s power system through electricity loss reduction measures, improvements in the operational capabilities, and strengthening the management and corporate performance of the country’s utility, Guyana Power and Light, Inc. (GPL).

Reducing overall electricity losses can improve GPL’s financial performance, while alleviating the government’s fiscal commitments with regards to the energy sector. Guyana is expecting a significant increase in electricity consumption during the next decade as a result of the growth of its residential and commercial sectors and the expected return of large customers to the national power grid.

GPL is now facing various challenges in trying to provide additional electricity on an efficient and reliable basis, which include high levels of electricity losses. As Guyana’s energy demand increases, the distribution infrastructure will experience greater stresses, and in turn, this will challenge GPL’s management and its ability to manage electricity supply.

Pictures of George Town, Guyana by Stacey Dos Santos, reproduced under CCL.

Thursday 10th July 2014

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