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Molasses To Ethanol Could Yield Huge Energy Savings
By Mr Ethanol | April 22, 2007
Stabroek News:
A US$6.5 million investment in a distillery for ethanol production using molasses could result in a net earning of US$800,000 and annual savings of US$5.4 million on the local energy import bill, at 2005 prices, a UN agency has said.
The report by the UN’s Economic Commission for Latin America and the Caribbean (ECLAC) envisages using one third of the molasses not under current long-term contract
In a telephone interview on Wednesday, Prime Minister Sam Hinds told this newspaper that ECLAC has recommended that Guyana invest in a distillery in the short term for the production of ethanol and that the country should consider using 10% of ethanol in fossil fuel for motor vehicles.
The country depends on imported fuel to meet the needs of the transport sector. In 2005 alone, fuel accounted for 29% or US$220 million of the value of imports of the country.
Meanwhile, Hinds said that some four foreign companies are interested in investing in the industry including BioCapital from Brazil and the US firm Global Energy Ventures.
According to the ECLAC report, “imports of gasoline which could potentially be replaced by ethanol fuel were equivalent to 8.6% of the country’s GDP in 2005.” The increasing number of vehicles in the country is an indication of its growing motorisation and the increasing demand for fuel with obvious implications for the economy in terms of a larger fuel bill.
Asked whether the recommendations were being considered, Hinds said the government was looking at all the proposals related to ethanol production at this stage and though policy decisions have been taken decisions on the implementation are being considered.
Hinds said the current thinking is that planting of crops for biofuels should be on lands currently available for sugar cane or soya bean or abandoned cattle-grazing grounds; natural forests should not be felled to accommodate cultivation of crops for biofuels; and arable lands should not be made available for biofuels to the detriment of food security.
Topics: BizOp, News, Positives |
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