With China Railway Group Limited found to be the “most capable partner” for the development of the Amaila Falls Hydro Project (AFHP), Cabinet has given its no-objection to the Office of the Prime Minister to engage the Chinese company on the venture, which is expected to see Guyanese accessing cheaper electricity.
The Ministry of Finance last night announced that the Prime Minister’s Office would engage the firm to construct the project under the Build-Own-Operate-Transfer (BOOT) model, where the company will supply electricity to the Guyana Power and Light (GPL) Inc at a cost not exceeding US$0.07737 per kWh.
With this model, Guyana will not be investing any finances into the project as the company, which the ministry said was identified by the evaluation committee as the “most capable partner,” will provide the entire equity required and undertake all the risks associated with the project, the ministry said.
