GEORGETOWN, Guyana, Jan. 02, 2015, CNS – Described as Guyana’s largest and most ambitious project to date, the Amaila Falls Hydro Power (AFHP) Project is closer to becoming a reality. This was revealed on December 31, when President Donald Ramotar gave his annual New Year’s Address to the nation.
He announced that, “Norway has transferred earnings from our partnership of approximately US$80 million to the Inter-American Development Bank to fund part of Guyana’s equity share in the project. This is a significant accomplishment.”
The president who described the AFHP as the flagship of the Low Carbon Development Strategy (LCDS), and emphasised that government will continue to invest heavily in the physical infrastructure, “that is so critical to creating jobs and improving livelihoods.”
The realisation of the transformational project, he said, is high amongst government’s priorities, “to ensure the achievement of more affordable and more reliable energy.” President Ramotar said that for too long, Guyanese have looked forward to harnessing the country’s vast hydropower potential, “The time for realising this dream is long overdue”.
Unreliable and unaffordable electricity, he explained, continues to be the biggest impediment to investment and job creation in Guyana.
The Head of State said firmly, “My Government will deliver the Amaila Falls Hydropower Project to the Guyanese people, along with all its attendant benefits. Within months, we expect to achieve financial close and commence construction, and this project will come into operation during our new term in office”.
The project involves the construction of a hydropower plant in the area of west-central Guyana, where the Amaila and Kuribrong rivers meet. Electricity produced at the plant will be delivered to Guyana's capital, Georgetown, and its second largest town, Linden, by an electric transmission line. Once operational, approximately $9 billion will be saved annually from fuel import.
