The Renewable Energy Industry in CARIFORUM Countries

RENEWABLE ENERGY INDUSTRY STAKEHOLDER ASSESSMENT

GUYANA

3.8.2 | UTILITIES REGULATOR

The regulator is the Guyana Public Utilities Commission (PUC) Regulation. It has oversight for all utilities including the energy sector and therefore plays an important role in the liberalization of that sector and the emergence of the RE industry. The functions of the Commission include regulation, investigation, enforcement and all other areas defined in the Act including an amendment in 2016. They police the operations and standards of service of the utilities under its purview. Electricity licences are however issued by the Office of the President. The PUC may also act in an advisory capacity to the Minister responsible for energy. The UR’s stakeholder relationships are extrapolated from the other stakeholders that interact with them.

3.8.3 | FINANCIAL INSTITUTIONS

The financial institutions in Guyana include commercial banks, credit unions and other financial institutions. They have the capacity to finance the private sector even though there is the expectation that Oil and Gas Industry proceeds will finance much of the work planned for the Green Economy including RE and EE. While RE is not a specific focus of the FIs, there is interest in supporting financing in the residential and commercial sectors. They are aware of the national objectives and are committed to providing additional financing for the RE sector and at lower interest rates; thereby aligning with the RE goals.

Their credit due diligence policies remain in place in order to manage their risks; e.g. examining payback, ability to pay, management capacity, etc. Financing thresholds are flexible and may go up to US$10M. Their relationship with the other key stakeholders is depicted in the diagram right. FIs are not pursuing relationships with stakeholders even though they remain supportive when approached.

LEAD GOVERNMENT MINISTRIES

PRIVATE SECTOR INSTITUTIONS

REGIONAL INSTITUTIONS

FINANCIAL INSTITUTIONS

UTILITIES REGULATOR

FUNDING AGENCIES

HIGHER EDUCATION INSTITUTIONS

RENEWABLE ENERGY COMPANIES

Figure 3.40 | Relationships of Guyana’s Financial Institutions

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The Renewable Energy Industry in CARIFORUM Countries