Suriname to strengthen energy sector with IDB support

WASHINGTON, USA — Suriname will develop a new framework for its energy sector that will help supply electricity in a more economic, efficient and sustainable manner with a loan of up to $15 million from the Inter-American Development Bank (IDB).

The project will focus on revamping Suriname’s regulatory and institutional framework as well as creating the incentives to modernize power generation through hydro, solar, photovoltaic, efficient thermal and co-generation. It will also improve planning capabilities for the transmission and distribution network in order to reduce operational costs and improve reliability in the delivery of power.

In addition increasing the use of efficient technologies will mitigate Suriname’s dependence on oil, while introducing solutions to other isolated areas where access to the transmission network is not cost effective.

The IDB project will also help create conditions to provide more economic, efficient, and sustainable energy to villages in the interior of Suriname. Currently, some 30,000 people in those villages contend with restricted energy use or scarcity of diesel fuel for generators. The loan will support the country in transitioning to a more structurally sustainable economic model through better governance, increased living standards, improved human capital and equity.

SU-G1001 : Development of Renewable Energy, Energy Effic. and Electrification of Suriname

Project Description

This project will promote the use and development of renewable energy (RE) and energy efficiency (EE) in Suriname. RE is a major part of Suriname¿s strategy towards 2020, as it is recognized that the country has vast potential for the exploitation of renewable resources, including solar, hydro and bioenergy. Moreover, renewable resources can provide a solution for the electrification of the interior, where currently around 15% of the population has no access to electricity and the rest is supplied by diesel generation. The project will also assess the potential for the use of EE measures, and support policy and regulation to promote the use of Re and EE measures in Suriname.