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The Amaila falls Hydro-Power Project is moving apace.

Prime Minister, Samuel Hind says the Amaila falls Hydro-Power Project is moving apace, with government currently working to reach financial closure, since a significant sum is involved in such a large undertaking. He says the administration is doing its best to ensure costs remain at a minimum, despite price fluctuations globally.

According to prime minister, Hinds, the cost of the Amaila power station and its transmission line to the coast could vary between 500 to 650 million dollars, because of global price fluctuations. “We’re working to close all of these things together and the fact is some of the things keep moving a little bit because of what is happening in the world at the same time but our hope is still that we may be able to close and have things going before the end of the year.”

However, Mr. Hinds points out that government is seeking to ensure costs remain at a minimum.
The government has been much more active in this arrangement at this time with a desire to keep the costs low, because where the investment is made various costs have to be met with the desire to keep the cost low the government has been looking for ways to do it.

The Prime Minister says consultations are ongoing on the project. President Jagdeo in July of last year witnessed the signing of a framework agreement between the parties to the Amaila falls Hydro-Plant project.

The agreement formalizes the cooperation between the Guyana Power and Light Incorporated, Sithe Global Amaila Holdings Limited, the China Development Bank, and the China Railway First Group Company Limited.

“It sets out the parties’ intention to reach financial closure on the Amaila falls project within twelve months or ideally sooner”,

President Jagdeo described the project as the “flag-ship” of Guyana’s Low Carbon Development Strategy He said for years, there has been advocacy for the alignment of the developmental interests of small, poor countries, with the global need to combat climate change.

The Amaila Falls Hydro-Plant Project is the largest infrastructure investment in Guyana’s history. It is aimed at providing a cheaper and more reliable supply of electricity to meet the growing demands of the country. While simultaneously enabling Guyana to switch from its dependence on fossil fuel sources for electricity generation to nearly one hundred percent clean, renewable energy sources.

 

Source: http://ncnguyana.com



Category/ies:Guyana News.
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