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This transformational project is the single largest investment in Guyana and will allow Guyana in one single step to move from being almost entirely dependent on costly fossil fuels to being supplied almost entirely by renewable energy.

— Ashni Singh, minister of finance for Guyana

for the country,” he said. “It is a defining example of sustainable development — providing reliable, clean, renewable energy at a significant cost savings. Sithe Global is proud to be moving this project toward reality for the people of Guyana.”

Prime Minister Samuel Hinds

The Amaila Hydropower Project will be constructed by China Railway First Group, Ltd., based in the Chinese city of Xi’an. A ceremony marking the signing of the engineering, procurement and construction (EPC) agreement took place last September in Xi’an and was attended by Bruce Wrobel, chairman and CEO of Sithe Global, and by Sun Yonggang, chairman of China Railway First Group, Ltd. Also in attendance were Winston Brassington, chairman of Guyana Power & Light; presidential advisor Steven Grin; and representatives of the province of Shaanxi, China Export and Credit Insurance Corp., China Development Bank, the IDB and others. “This transformational project is the single largest investment in Guyana and will allow Guyana in one single step to move from being almost entirely dependent on costly fossil fuels to being supplied almost entirely by renewable energy,” said Finance Minister Ashni Singh. “We are delighted to have such credible partners recognize the importance of the project and be ready to invest private capital in Guyana.” Hinds, a chemical engineer with experience in the bauxite industry, said he’s “behind this project 100 percent.” That’s because it’ll bring down the cost of electricity from 20¢ per kilowatt-hour to 12¢ per kilowatt-hour, he said, allowing Guyana to wean itself off of expensive diesel and heavy fuel oil — both of which contribute to global warming. And those lower generating costs could lead to a rebalancing of tariffs, which would help all Guyanese in the long run. “Some companies like [alcoholic beverage producers] generate their own electricity because it comes out cheaper,” said Hinds. Demerara Distillers Ltd., for instance, is conscious of its environmental footprint. It decided a few years ago to invest in a biomethanation plant that converted the wastewater from its distillery operations into methane gas, which is used in its boilers,

April • May 2013

replacing a significant quantity of fossil fuel it previously used to produce steam required for its distillation process. The company also built a plant to capture carbon dioxide that is emitted from its molasses fermentation process and purify it for use in its carbonate beverage production. “It’s expected that with tariff rebalancing, we’ll be able to offer even greater reductions for industrial demand,” Hinds said. That, in turn, could lead to more investment in Guyana’s crucial mining sector. “If we stay dependent on petroleum, we’ll face a continual rise in prices,” Hinds warned, “though coal is not an option because of our relatively small size. This will not generate enough power for Guyana to export.” Hinds said nobody would have to be resettled, since the Amaila dam is located in a remote area of Guyana. “Environ­ mental issues are being looked at very closely,” the

prime minister added. “We have advocated the Low Carbon Development Strategy.” In addition to Amaila, the Guyanese government has advertised for contractors to build a small hydro plant and irrigation infrastructure in the southwestern village of Kato, near the border with Brazil. The European Union is funding the $3 million project, to be implemented by the Hinterland Electrification Unit of the Office of the Prime Minister. The 330-kilowatt micro hydropower station will be located at the Chiung River waterfall. Among other things, this project will provide clean energy through a 16-kilometer transmission line to the village of Paramakatoi as well as a new secondary school and various government buildings to be constructed by the Ministry of Education. That station is expected to be online by mid-2015.

RESOURCES IN GUYANA Guyana Office for Investment GO-Invest is the primary contact for investors and exporters. It helps companies connect with government ministries and other agencies, and expedites the processing of applications for concessions and other government support. Resorts & Tours of Guyana Baganara: Hurakabara: Knight Riders Tours: Wilderness Explorers: Hotels CARA Hotels: Princess Hotel Guyana International Guyana Pegasus:

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Knight Rider Bus Service Knight Rider Bus Service offers ground transportation services and the largest fleet of vehicles in Guyana. It provides charters for most tour operators, international organizations (UNICEF, UNDP, PAHO, WHO, WWF, etc.), foreign missions and nonprofit groups. Guyana Tourism Authority; Ministry of Foreign Affairs Guyana Diaspora Project Government Information Agency (GINA)

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