Ten companies participating in the European Union Economic Mission to Guyana have expressed interest in the electrical energy sector.
Minister within the Ministry of Public Works, Deodat Indar, has encouraged these companies to collaborate with those recently awarded contracts to address the country’s power shortage crisis.
The current power demand in Guyana is approximately 184.5 megawatts, while only 167 megawatts are being supplied, primarily using a 14-year-old 7.8-megawatt engine.
In response, the government invested $27.5 million US dollars to procure a 28.9-megawatt generator and awarded contracts for facility construction.
Minister Indar emphasized that while the current project is short-term, the government aims to engage with energy companies for long-term solutions, including those participating in the EU Economic Mission.
He suggested that these companies collaborate with lead contractors in the power project to optimize their services.
In addition to the electrical energy sector, Minister Indar informed companies interested in maritime opportunities that the sector holds considerable potential but faces challenges due to the lack of dry dock, floating platforms, and spooling facilities.
The EU Economic Mission involves twenty-three companies from ten European member states, including the Netherlands, Germany, Belgium, Finland, Spain, Italy, Austria, Sweden, Ireland, and France.
These companies aim to explore, invest, and establish business partnerships with local entities, contributing to Guyana’s economic growth.