The Caribbean Develop-ment Bank (CDB) was willing to provide financing to upgrade and operationalize the Tumatumari hydropower facility but the funds needed is below the minimum the bank lends and the project is stalled as local institutions are unwilling to act as the intermediary.
Local engineering company, Dynamic Engineer-ing Company Limited of Eccles was spearheading the rehabilitation of the long-defunct hydroelectricity station in Region Eight (Potaro/Siparuni) as part of a wider plan for industrial development in the area. Work had begun in 2010 but halted in early 2012 owing to financial difficulties.
The stalled project came up during a recent meeting of the Low Carbon Development Stra-tegy steering committee during which it was noted that the facility had great promise and was working up to 1990 and had provided 1MW of electricity and there is now a consortium to rehabilitate and get the plant to produce up to 2MW. It was noted that should the project come on stream, the government will not have to provide fuel for the Mahdia sub-Region.
According to the minutes of the meeting, it was stated that the CDB is willing to lend the money so that the hydro facility can be upgraded and operationalised. “However, the amount of money needed is below the minimum the bank lends. Therefore, it is requested that a local bank act as an intermediary. The CDB has spoken with all the banks
