Description

Suriname ranked last among the 55 nations surveyed for Climatescope 2014 with a score of 0.31. It was weakest in Enabling Framework Parameter I and Clean Energy Value Chain

Parameter III, coming second to last in both categories. The only bright spot was in Clean Energy Investment Parameter II, in which it ranked 31st on account of renewable energy grants received in 2013.

Much of the small South American nation’s $7.1bn GDP is derived from extractive industries such as gold mining and drilling for oil. These energy-intensive activities rely on thermal (oil and diesel) and large hydro for power, mirroring the situation in the country at large: the nation’s generating capacity is divided evenly between these two sources.

The country has considerable potential for clean energy, given its large water reserves and high levels of solar irradiation, but with low power prices (in 2013, the average was $0.04/kWh), there is little incentive to develop renewable power projects.

Still, Suriname has made small strides in 2014, the country’s first PV plant secured financing. The 5MW PV plant will supply power to a gold mine (IAMGold Rosebel gold mine), and it should boost Suriname’s score in the next edition of Climatescope.