Energy Storage Battery Forum 2025: Guyana''s Leap Toward
With the Energy Storage Battery Forum 2025 just 18 months away, this small South American nation is positioning itself as the region''s clean energy laboratory. The question is, can battery
Guyana offers fiscal incentives for clean energy investments including value added tax (VAT) and import duty exemptions for renewable energy equipment, and a capital expenditure write-off within two years. Guyana prioritizes green energy generation under its Low Carbon Development Strategy and welcomes investment to reduce its carbon footprint.
ExxonMobil is the majority shareholder in the consortium (which also includes Hess and the China National Offshore Oil Company) developing Guyana's over 11 billion barrels of offshore oil deposits. Guyana also seeks to monetize its downstream energy sector, particularly gas, in 2024.
As Guyana's oil production rises the country's financial account may become vulnerable to external shocks. However, vulnerabilities remain limited likely due to the concessional nature of public borrowing. Guyana's foreign currency transactions as of mid-year 2022 fell by 7.2 percent.
Guyana seeks long term investments for its remaining forest carbon credits. At the International Travel Awards 2024 at the International Tourism Exchange in Berlin, Guyana won the Destination of the Year award in the Ecological Tourism category.
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