Staatsolie and National Energy Corporation are exploring the development of solar energy and cooperation in the field of natural gas

Staatsolie release

Staatsolie Maatschappij Suriname N.V. and National Energy Corporation of Trinidad and Tobago Limited (National Energy) will investigate the possibilities of jointly building solar power plants in Suriname and/or Trinidad and Tobago. They will also cooperate in the field of natural gas. To this end, they signed documents today, June 4, 2024.

National Energy and Staatsolie want to jointly develop sustainable energy projects. This is the main theme of a Memorandum of Understanding (MoU) they signed this morning. The MoU contains agreements for, among other things, carrying out feasibility studies for jointly setting up solar power plants in Suriname and/or Trinidad and Tobago. The first identified project concerns exploring the possibilities for setting up installations in Suriname with a generation capacity of more than 45 megawatt peak power (MWp) of electricity, enough to supply more than 14,000 average households with electricity. Watt peak power indicates the maximum power of a solar panel under optimal conditions.

National Energy produces 469 megawatt hours (MWh) of electricity per year and is building a 100 MWp solar power plant. Staatsolie is a major player in electricity generation in Suriname and generates an average of 165 MW (approximately 1.4 million megawatt hours).

In addition to the MoU, a Letter of Intent (LoI) has also been signed. The LoI's basic principles are capacity building and knowledge exchange. The parties will exchange knowledge and expertise to advance their respective energy sectors. Trinidad and Tobago has an enormous amount of knowledge, particularly in the transport, sale and local use of natural gas, and Staatsolie wants to learn from them. National Energy will create opportunities for this within the National Gas Company of Trinidad and Tobago. Trinidad and Tobago is interested in purchasing future gas production from offshore Suriname.

The MoU and LoI were signed by Vernon Paltoo, President of National Energy Corporation and Annand Jagesar, Managing Director of Staatsolie. This moment highlights both companies' desire to build stronger relationships between the energy sectors of Suriname and Trinidad and Tobago.

National Energy
National Energy Corporation of Trinidad and Tobago Limited is a state-owned company that has been a leader in energy development in Trinidad and Tobago for 45 years. The company is committed to supporting the sustainable development of the energy sector through innovative solutions and strategic partnerships.