Guyana Power and Light has signed a cooperation agreement with Global South Utilities, a United Arab Emirates-based firm, to modernize the country's power grid.
The deal represents the first significant entry of Gulf capital into South America's energy infrastructure sector, signaling a strategic shift in regional investment flows.
The agreement was finalized during an eight-day trade mission by a UAE delegation across Latin America, which included stops in Panama, Chile, and Guyana.
The mission aimed to secure new investment avenues and resource partnerships, with the Guyana deal serving as a tangible outcome of those diplomatic and commercial efforts.
This development underscores the growing interest of Middle Eastern sovereign wealth and utility firms in diversifying their portfolios beyond traditional hydrocarbon assets.
As Guyana's economy expands rapidly driven by offshore oil discoveries, the demand for reliable and modernized power infrastructure has become a critical bottleneck for further industrial growth.