The government is evaluating bids for the Amaila Falls Hydropower Project, with President Dr Mohamed Irfaan Ali stating a decision on the preferred proposal could be made in the coming weeks.
The update comes as the United States Export-Import (EXIM) Bank has expressed interest in financing the project, one of several major infrastructure initiatives discussed during a meeting between President Ali and the bank’s president and chairman, John Jovanovic, in New York on September 21.
During a special interview on Guyana-Qatar relations streamed on Tuesday, President Ali confirmed that bids were received following a renewed tender for the hydropower project.
The head of state made it clear that the government’s preferred approach involved a design, build, finance and operate arrangement supported by a power-purchase agreement.
“We are hoping that in the coming weeks, we will be in a position to say what structure or what bid is the best in the interests of Guyana’s development and our people’s development,” the president said.
The Amaila Falls Hydropower Project will be developed in Region Eight and is designed to deliver a minimum of 165 megawatts (MW) of renewable energy to the national grid.
It forms part of the People’s Progressive Party/Civic (PPP/C) Administration’s broader energy strategy, which seeks to diversify Guyana’s energy mix through investments in natural gas, hydropower and solar energy.
The project was advanced more than a decade ago under a previous PPP/C Administration but encountered a major setback in 2013 amid disagreements over parliamentary support.
The renewed effort to develop Amaila Falls is in line with Guyana’s Low Carbon Development Strategy (LCDS) 2030.
The strategy identifies hydropower as an important component of the country’s transition towards cleaner energy. Once operational, the facility is expected to supply large-scale renewable electricity to the national grid and contribute to Guyana’s long-term energy security.
The latest development also follows discussions between President Ali and the US EXIM Bank on expanding financing cooperation.
In addition to Amaila Falls, the bank has expressed interest in supporting Guyana’s proposed second gas project, a deepwater port and other infrastructure investments.
The evaluation of bids is ongoing.
No successful bidder or finalised US EXIM financing agreement for Amaila Falls has been announced.