The Private Sector Commission (PSC) will be providing technical advice and support in the areas of climate change, energy, environment and sustainable development for its members. This was made possible with the signing of a Memorandum of Understanding (MoU) with an Indian company on Monday.
The Memorandum of Understanding made on the 8th August 2016 between the PSC and The Energy and Resources Institute (TERI) is a three-year agreement crafted to give members of the local business community a chance to benefit from the company years of experience when it comes to climate change and energy efficiency.
According to the Chairman of the Private Sector Commission Edward Boyer the initiative would help the manufacturing sector given the cost of energy as a barrier to the development in that area.
“We must note that the common impediment to the expansion of our private sector and the country’s competitiveness is energy. The high cost of energy is perhaps the greatest barrier to the development and expansion of our manufacturing sector. While there has been temporary relief due to the current low price of oil, this situation is not expected to last. Alternative renewable, cheap and sustainable energy sources, therefore, assume greater importance and, in this area, “TERI is an acknowledged global leader” the PSC chairman said.
The Energy and Resources Institute, Director General Dr. Ajay Mathur said his company remains committed to working with key stakeholders in Guyana.
He also announced that a local office will be established here no later than October with a full complement of staff to work even closer with the business community.
Through this Partnership between the Guyana Private Sector and TERI, we expect to:
Support the PSC in its consideration of green growth and sustainable development;
Support the PSC in conducting energy performance studies (audits) and provide implementation assistance for individual or collective member entities;
Share information on TERI’s research and technology and its potential applications in Guyana such as gasifiers, bio-pesticides;
Support the PSC in exploring renewable energy options for businesses and which would include consideration of solar, wind, hydro and micro-hydro applications;
Support the PSC to explore capacity building opportunities in India (such as ITEC); and
Support the establishing of linkages with private sector entities in India.
Minister within the Ministry of Finance Jaipaul Sharma who witnessed the signing during his remarks said this MoU fits into government’s drive to a green economy.
The Energy and Resources Institute is said to be one of the leading research organizations in the areas of climate change, energy, environment and sustainable development and has done work over the last three years here.
This is not the first project that will be undertaken by the company locally as Dr. Mathur said TERI started work with the Government of Guyana in 2011 and over these 5 years, working through the President’s Office, TERI’s technical teams have undertaken activities in the area of energy management and working in the core economic sectors of Guyana.
