GPL gets US$60M to cut losses
Guyana Power and Light Inc (GPL) Chief Executive Officer Bharat Dindyal yesterday announced that the company is expected to receive US$60M from the Inter-American Develop-ment Bank (IDB) and the European Union (EU) for infrastructural improvement which will address the long-running problem of technical losses.
The announcement comes weeks after GPL was rapped by the Public Utilities Commission (PUC) regarding its $7B in system losses for 2013.
In a public presentation led by GPL’s key Directors at Duke Lodge yesterday, Dindyal announced that with the approval of the US$60M, the company will tackle the huge problem of system losses from a technological standpoint. The funds have been approved for network and infrastructural support to reduce system losses in Guyana’s Power Supply System. Dindyal called the loan the …..To continue reading, login or subscribe now.