To improve reliability and reduce cost of electricity, $88B is set to transform energy sector
To address longstanding challenges and bolster reliability while reducing costs, the Dr. Irfaan Ali-led Administration has earmarked $88 billion in the 2025 Budget for advancements in Guyana’s energy sector.
“The challenges faced by our energy sector are long-standing and well-known,” remarked Senior Minister in the Office of the President with responsibility for Finance and the Public Service, Dr. Ashni Singh.
“Since our previous term of office, we have been earnestly seeking lasting solutions to the inadequacy, unreliability, and high costs of electricity in Guyana.” Highlighting the impact of past policies, Dr. Singh noted that the Amayla Falls Hydropower Project would have supplied the National Grid with 165 megawatts of power if it had not been derailed by the APNU+AFC Administration.
“Within the first four years of our current term, we added over 171 megawatts of new generating capacity. This includes operationalizing the 46.5-megawatt plant at Garden of Eden and sourcing 96 megawatts from power ships.”
The centrepiece of future plans is the transformative 300-megawatt gas-to-energy project, currently under construction.
“Phase one is set to come online in 2025, significantly enhancing energy availability and affordability.” He added, “We are also enhancing our transmission and distribution network, with extensive upgrades and new installations planned.”
