Energy

 

	Box 2.12: Private Sector Commission: Representing the Private Sectors
	The Private Sector Commission (PSC) was established in 1992 as a not-for-profit organization serving as an umbrella organization for the representation of the private sector, including Guyana’s private sector associations. Its principal mission is to unite the Guyanese private sector and serve as its advocate on issues of national importance, thereby asserting its strategic role in enhancing the business environment and the economic development of the country. The PSC aims to implement programs that improve the skills and talents of personnel on a sector-wide basis in support of the economy as a whole.
	The PSC is the national antenna for a number of programs supporting private sector development, such as the Brussels based Centre for the Development of Enterprise (CDE), which is funded by the E.U. The CDE forms part of the general system of support that the European Commission (EC) created for promoting the private sector in order to combat poverty within African, Caribbean, and Pacific (ACP) countries. It also supports PROINVEST, an EU-ACP partnership program developed and undertaken by the EC on behalf of ACP countries to promote investment and technology flows to enterprises within key sectors of ACP states.
	Currently, the PSC is playing a key role in the ongoing development of the National Competitiveness Strategy.

Guyana provides a number of opportunities for investors within the energy sector, particularly with regards to petroleum, gas and hydropower generation.

It is estimated that large deposits of oil and gas lay offshore (2.2 billion barrels and 6 trillion cu ft./ 28.3 billion+ cubic meters respectively). These reserves have not yet been effectively explored because the area is also claimed partly by Suriname and Venezuela. The case is currently before the U.N. International tribunal. A decision is expected in 2007. Onshore exploratory drilling is currently underway.

With its extensive river network and favorable topography, Guyana has promising potential for hydroelectric generation for both domestic consumption and electricity exports. To date, this potential is almost completely untapped. Currently, there are plans for a 100-MW scheme for Amaila Falls in western Guyana, with other sites with development potential.

The Government is also keen to develop alternative energy sources such as wind and solar power. For example, the Guyana Energy Authority is currently facilitating a foreign investor to construct a wind farm at Good Hope, which is expected to have an installed capacity of 12 MW.

Organizational Support
The Petroleum Division of the GGMC is responsible for promoting Guyana’s petroleum potential, negotiating exploration contracts and monitoring all exploration activities.

The Office of the Prime Minister is responsible for policy making and regulatory functions related to the electricity sector. The Guyana Energy Agency (GEA) is responsible for developing and implementing national energy policy, and promoting energy efficiency and the development of new and renewable sources of energy. The GEA, along with GO-Invest is a key point of contact for persons or companies interested in investments in the energy sector.