$25.4B spent on renewable energy, 4,500 jobs created

Over the past five years, $25.4 billion has been invested in renewable energy, increasing capacity from 5.35 MW to 37.23 MW and creating more than 4,500 jobs, Prime Minister Mark Phillips said on Friday.

Speaking in the National Assembly during Budget 2026 debates, Phillips said the country’s energy sector is on track for a major transformation, with projects expected to produce about 350 MW of power by year-end. Initiatives include the 0.15 MW Kato Hydropower Plant, the Wales Gas to Energy project, and expanded solar distribution in coastal and hinterland areas.

Phillips described the Gas to Energy project as “transformative,” providing low-cost, reliable electricity, supporting heavy manufacturing, and attracting investment.

In 2026, 21 new solar mini-grids will be installed, 11 upgraded, a 3 MW solar plant constructed at Cheddi Jagan International Airport, and solar systems added to more than 250 buildings. Over 12,300 people in hinterland communities are expected to benefit.