Staatsolie and National Energy Corporation explore solar energy development and collaboration in the field of natural gas

04 June 2024

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

National Energy and Staatsolie aim to develop sustainable energy projects together. This is the essence of a Memorandum of Understanding (MoU) they signed Tuesday morning. The MoU includes agreements for conducting feasibility studies, among other things, for jointly setting up solar power plants in Suriname and/or Trinidad and Tobago. The first identified project involves exploring the possibilities of setting up installations in Suriname with a generating capacity of over 45 megawatt-peak (MWp) electricity, enough to provide electricity to over 14,000 average households. Peak wattage indicates the maximum power of a solar panel under optimal conditions.

In addition to the MoU, a Letter of Intent (LoI) has also been signed. The LoI is based on capacity building and knowledge exchange. The parties will exchange knowledge and expertise to help advance their respective energy sectors. Trinidad and Tobago, particularly, has a wealth of knowledge in the transportation, sale, and local use of natural gas, and Staatsolie aims to learn from them. National Energy will work with their parent company, the National Gas Company of Trinidad and Tobago for this purpose. 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 underscores the desire of both companies 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.