The readiness proposal will support the development of potential utility scale renewable energy projects for public-private partnership and GCF funding. To facilitate the implementation of renewable energy projects, and ultimately the Country Programme being developed, potential national accredited entities from the Energy Sector will be assessed and the nomination by NDA of two entities will be supported, while raising their awareness on GCF funding opportunities. As key Government partner, the private sector will be engaged in the process of prioritizing utility scale renewable energy projects and made aware of potential access to GCF through Private Sector Facility. Addressing barriers to scale up and make use of the country’s abundant natural energy resources would help reduce the cost of power and pave the way for sustainable access to renewable energy. In line with this, the proposed project will undertake policy and institutional assessment and provide recommendations as well as for innovative financing to leverage private sector investments. The main project beneficiaries will be the Department of Environment, Guyana Power and Light, Guyana Energy Agency and Private Sector Commission as well as other potential national accredited entities and private sector stakeholders from the energy sector. Other beneficiaries include target audience for the awareness raising materials for NDA dissemination.

The activities under this readiness proposal are complementary with each other and builds on deliverables of approved readiness projects. The development of utility scale RE projects and support for enabling private sector investment in the energy sector is aimed at the realization of the Country Programme developed under the CCCCC implemented readiness project. The proposed project will make use of awareness-raising and information materials developed through completed/ongoing readiness activities to be updated/improved appropriately to fit for use of potential national accredited entities from the energy sector and private sector stakeholders. Moreover, it will benefit from the GCF Accredited Entities Committee to be created under the readiness project being implemented by FAO as well as lessons learned from experience so far in supporting national agriculture entities for accreditation.