Hydropower Funds Directed To Solar Project

• Guyana has dirverted funds from Norway and Inter-American Development Bank to PV project
• The $80 million amount will now be used for the development of a PV project; originally, the 165 MW Amaila Falls Hydropower project was the original choice for the funds
• Local newspaper Stabroek News reported that the proposed PV plant could have 100 MW capacity, divided between two projects of 50 MW each with battery energy storage

Funds meant for the Amaila Falls Hydropower project in Guyana are likely to be diverted to a 100 MW proposed solar power project in the country. A trilateral meeting between representatives from Norway, Guyana and the Inter-American Development Bank (IADB) decided to place $80 million amount in a trustee account.

Guyana and Norway had entered a MoU in November 2009 as per which Norway committed to providing Guyana up to $250 million by 2015 for avoided deforestation if the Latin American country meets certain performance indicators.

The 165 MW Amaila Falls Project had been central to the country's Low Carbon Development Strategy as it aims to achieve 100% renewable energy by 2025. Its commissioning would have eliminated at least 92% of the country's energy related GHGs.

Stabroek News reported that Norway and IADB encouraged Guyana to give alternatives to the hydropower technology. The 100 MW PV plant may have a storage component as well, and could be divided into two projects of 50 MW capacity each.