IDB Invest and 2020 FMCG partner to promote solar energy in Guyana

The Guyanese company 2020 FMCG Inc. (Farfan and Mendes), an industry leader in the supply of equipment and services to different sectors including renewable energy, has obtained a revolving credit facility with IDB Invest for an amount of 5 million dollars.

The goal of the financing scheme is to develop and expand large-scale and commercial solar photovoltaic power generation capacity. The five-year credit facility, aligned with Guyana’s 2030 Low Carbon Development Strategy, will finance the company’s operating capital needs to promote the use of renewable energy in Guyana.