Original Amaila Falls developer ‘Fip’ Motilall will be paid US$12 million at the financial closure of the project and he has explained how it was that his company Synergy Holdings Inc and its minority partner Enventure Inc transferred the licence to Sithe Global – the developer since 2009.
He has also made reference to US law which requires that supporting documentation for a multilateral project has to be made public in the United States for at least 120 days before American representatives can vote on it. The IDB is due to vote on the project in October, and if the American representatives abstain, Motilall said, it would be difficult for the project to pass.
Motilall said that of the US$12 million that he will receive upon financial closure of the project, 30 per cent goes to Enventure Partners. “What remains – US$7 million plus – goes towards paying back the US$5 million I spent on
