Cooperation between "Global South Utilities" and the Guyana National Electricity Corporation to develop energy infrastructure projects
GEORGE TOWN, July 7, 2017 (WAM) – Global South Utilities, a UAE subsidiary of Resources Investments in Abu Dhabi, signed a memorandum of understanding with the Guyana Power and Light National Electricity Company in the Cooperative Republic of Guyana, to explore opportunities to develop infrastructure projects for the energy sector.
The signing of the memorandum of understanding was attended by His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, on the sidelines of the visit of an Emirati economic delegation to the Republic of Guyana within the “UAE Trade Days”.
The memorandum aims to establish a framework for cooperation between the two sides to identify, evaluate and develop potential projects in the energy sector in Guyana, including developing electricity generation and infrastructure projects, modernizing electricity networks, and integrating renewable energy sources, thus contributing to enhancing the reliability, flexibility and sustainability of the national energy system.
The memorandum was signed by His Excellency Deodat Indar, Member of Parliament and Minister of Public Utilities and Aviation of the Republic of Guyana, on behalf of Guyana Power and Light, and Ali Al-Shammari, Managing Director and CEO of Global South Utilities.
The memorandum comes at a time when Guyana is one of the world’s fastest growing economies, which enhances the demand for a modern, reliable and sustainable energy infrastructure capable of keeping pace with rapid economic growth.
This cooperation represents a platform for evaluating opportunities for developing the energy sector in Guyana, which at the same time enhances the UAE’s growing economic presence in South America and the Caribbean.
Ali Al-Shammari said that Guyana is witnessing a pivotal stage of economic development and infrastructure development, which opens broad horizons for developing more flexible energy systems capable of supporting sustainable growth. He expressed his aspiration, through the partnership with Guyana Power and Light, to explore projects that contribute to developing the electricity infrastructure and accelerating the transformation process in the energy sector.
He added that this partnership represents an important step in the company’s international expansion strategy, and reflects Global South Utilities’ commitment to developing a reliable, sustainable, and future-ready energy infrastructure in emerging and high-growth markets, stressing the importance of international partnerships in supporting sustainable development and promoting long-term economic cooperation.
The memorandum of understanding reflects the growing economic relations between the UAE and the Republic of Guyana, and supports the objectives of the UAE trade mission to South America and the Caribbean, which aims to enhance bilateral cooperation and explore new opportunities in strategic sectors.
This partnership represents Global South Utilities’ first entry into South America, and is an extension of the company’s strategy aimed at expanding its presence in emerging markets, through cooperation with governments and national companies operating the energy and electricity sectors, to develop a modern energy infrastructure that contributes to enhancing energy security and supporting sustainable economic development.
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