CHINA’S Ambassador to Guyana, Guo Haiyan, has expressed optimism for Guyana’s future in the realm of energy development, highlighting opportunities for collaboration between the two nations.

The ambassador’s remarks come amidst Guyana’s accelerating transition towards a renewable energy matrix, through solar and other forms of renewable energy.

She was at the time speaking at the recent signing of US$38 million in contracts for acquiring 18 megawatts peak (MWp) of solar-power capability for Regions Two, Five and Six.

The ambassador described the signing as a big achievement for Guyana, saying she was genuinely inspired by the country’s rapid development and that China was happy to be a part of it, noting that the two nations’ partnership has been growing.

“Guyana has ushered into a once-in-a-century development opportunity, and China enjoys the advantage of production and technology, so which constitutes complementary[complementarity] between the two countries,” she said.

Importantly, she stated that she was inspired by Guyana’s effort in conserving its forests and modernising the country’s energy system. “By doing this, Guyana is firmly fulfilling its commitment to emission reduction and playing a greater leadership in climate security in this region. We [Guyana and China] have a bright future in development, especially in new energy development.”

Referring to Guyana’s Low Carbon Development Strategy (LCDS), she stated that the country’s renewable energy contribution will increase by five per cent by 2027 and 70 per cent by 2030, with solar power via battery storage serving as the primary source in the region.

The solar power project is a collaboration between Chinese enterprises SUMEC Complete Equipment and Engineering Company Limited and XJ Group Corporation.

According to her, SUMEC is recognised among Fortune China’s top 100 firms and has vast expertise delivering such solar projects in Latin America and the Caribbean.
The Chinese envoy expressed hope that developed countries will provide financial assistance to developing countries to help meet their Sustainable Development Goals (SDGs) and improve climate security.

She said: “Yes, development is impossible without financial support in any country. So, I hope the developed countries can provide more assistance to developing ones in achieving Sustainable Development Goals (SDGs) and ensuring climate security in the future.”

According to the ambassador, China is the world’s largest solar-power market. She said, too, that in 2023, solar power became the second largest source of energy in her country.

The Government of Guyana’s objective is to lower energy costs by at least 50 per cent by 2025 through an energy mix which incorporates gas, solar, wind, and hydropower.