As the United States moves to increase its engagement with the Caribbean on energy, outgoing United States Ambassador Brent Hardt says Guyana’s hydropower potential will be examined.
“The (US) vice president (Joe Biden) just announced a few days ago that we will be stepping up our engagement with the Caribbean… to bring investors and governments and other stakeholders to boost energy collaboration,” Hardt said.
Hardt, during his exit interview with Stabroek News on Monday, voiced support for the Caribbean Development Bank’s recent endorsement of Guyana’s quest to exploit its hydropower potential.
“That’s an area where the United States will definitely be deeply engaged going forward; to find ways to find alternative energies… the Caribbean is rich in alternative energies… Guyana’s waters and waterfalls,” he said.
Hardt had said that he believed that Guyana had lost a golden opportunity with the collapse of the Amaila hydropower project.
Questioned if he believed that there was a possibility of the project being revived, he said that it was a decision that lay completely with government stakeholders and the Guyanese populace.
He said that he sees that government is determined to move forward with it and he understands that Sithe Global remains interested. He said too that while he was not personally aware of developments on Blackstone’s interest, he believes that they are keeping in contact with government.
“It’s one of these projects that could have a decisive economic impact on energy cost and make the manufacturing sector more competitive… if there is a way forward it should be certainly pursued,” he asserted
“It’s something to have a national consensus on. The government and opposition have to dialogue on a way forward,” he added.
In this year’s budget, US$80 million was listed as equity for the project. “It is a pity that the project did not start last year but it is still on the radar and we hope to get it started this year hopefully,” President Donald Ramotar said.
Before US-based Sithe Global pulled out here last year as the developer of the US$858.2 million, 165 megawatt hydro venture, the project was shrouded in controversy as costs escalated.
Sithe Global pulled out of the project last August citing a lack of political consensus. The company had issued explicit statements that unless all three parties in Parliament backed two legislative measures for the project, it would pull out. After the measures did not receive full opposition support, the company walked away. Sithe Global’s President Brian Kubeck had said that the project was too large to continue without national consensus.
There has been no official statement issued by Sithe Global to suggest that there has been any recent developments and any decision to recommit to the project although government holding company, NICIL said Finance Minister Dr Ashni Singh had indicated earlier this year that the key principals remained engaged in the project.
Ramotar said on Thursday that that his government remains committed to seeing the completion of the project but would not wait indefinitely on the two companies as they had other interested investors lined up.
“We are still open and ready to go with Blackstone and Sithe Global but we are not going to wait forever because we have other options… cheap energy is indispensable for our social and economic development that is why I am determined that we must push ahead to make the Amaila project a reality,” he said.
