Fortescue (FMG), an Australian company and a global leader in the iron ore industry, is exploring renewable energy opportunities in Guyana.
Speaking in a recent interview, the chief executive officer of the Guyana Office for Investment (GO-Invest), Dr Peter Ramsaroop, said the company is seeking to establish operations in three countries and has shown a keen interest in the country.
He revealed that during a recent visit to Guyana, Fortescue discussed the harnessing of renewable energy from the Amalia Falls Hydropower Project to produce green energy products such as ammonia, hydrogen, fertilisers, and metals for both local and foreign markets.
“They are looking to re-enter Guyana in the first quarter for further studies and development. These projects are large projects, it is not just about the development of the Amaila Falls project, but it is looking at large-scale operation that requires renewable energy to produce an output. So, it is not a quick fix; it is a fix that has to be well studied and they are moving to that next step.”
Ramsaroop also said the Coalition’s Green State Development Strategy: Vision 2040 does not provide any insight into the future of renewable resources, whereas the LCDS, crafted by then President Dr Bharrat Jagdeo was instrumental in securing the Guyana REDD+ Investment Fund (GRIF).
Vice-President Jagdeo, at his last press conference in November, said the LCDS will be the main document guiding the country’s climate actions and they would also be expanded in the areas of biodiversity, water management and other sectors.
Jagdeo then said that the Government is creating a coordinated and efficient mechanism to deal with all climate and environment-related issues.
Additionally, Prime Minister Brigadier (retired) Mark Phillips, during the debate on Budget 2020, said the Government intends to complete the Amaila Falls project in keeping with its plan to provide a cheaper and more reliable power supply to the nation.