IDB, Norway approve funds for utility-scale solar, storage in Guyana

The Inter-American Development Bank (IDB) said that it has approved a non-reimbursable investment financing of up to USD 83.3 million (EUR 78.9m) to support the roll-out of solar and energy storage systems in Guyana.

The amount, which includes funds from the Norwegian Agency for Development Cooperation, will go towards the Guyana Utility Scale Solar Photovoltaic Program (GUYSOL) – an initiative aimed at promoting the diversification of the energy mix in the South American nation.

The GUYSOL programme will invest in eight utility-scale solar PV projects totalling 33 MWp and 34 MWh of energy storage systems across three areas in the country. This will lead to the installation of 10 MWp of solar in the Berbice area, 8 MWp of solar and a minimum of 12 MWh of battery storage in the Essequibo system, and a 15-MWp plant connected to the Linden system with a minimum of 22 MWh of batteries, IDB said.

The funding will also support modernisation and digitalisation of the Essequibo and Linded electrical systems, diversity and inclusion initiative and skill building, the bank added.

(USD 1.0 = EUR 0.948)

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