The performance of a grid-connected photovoltaic (PV) system, under the Surinamese weather conditions, is monitored and reported. A measurement and data-logging system provides inputs for the calculation of selected standard key performance indicators (KPI). Calculated KPI's are compared to expected values obtained from modelling the system using the PVSyst software. In addition, results from selected comparable studies are also used to compare the computed KPI's. Using one year data, the annual energy yield (Eac) totalled 37 MWh. This value is 6% higher than the one obtained from the modelling software. The calculated performance ratio (PR) and capacity factor (CF) of 74.5 and 15.5%, respectively, are also higher than the ones obtained from PVSyst. The difference can be attributed to the irradiance data (satellite data, monthly averages) used for input in the PVSyst software. The above mentioned calculated values for the PR and CF compared favourably with internationally reported values for systems located in regions with similar weather patterns. Using a total investment cost of 109,000 USD the levelised cost of energy (LCOE) calculated with the RETScreen software equals USD 0.36 /kWh. This LCOE is three times the current energy price in Suriname.