GUYANA-ENERGY-Guyana government issues statement outlining support for Amaila hydro project

GEORGETOWN, Guyana, CMC – The Guyana government Monday said that the total public debt for Amaila Falls is “zero” and insisted that there has been “considerable confusion” in recent weeks regarding the cost of the multi-million dollar project.
In a statement which the Donald Ramotar government said was aimed at “clearing this confusion” it said Guyanese citizens will pay for Amaila Falls in two ways.

“Guyanese taxpayers will pay for Guyana’s share of ownership (the Equity) in the Amaila Falls private company - in return, the taxpayer will save money each year from not having to pay a subsidy to GPL (Guyana Power and Light) Guyanese consumers will pay GPL for electricity (by paying the Consumer Tariff) at a rate that is considerably less than the tariff they pay today.

“Guyana’s taxpayers will pay about US$100 million in equity,” the statement said, adding that the approximately US$20 million of the money which is being spent on the access road to Amaila” and the remaining US$80 million which is being invested from the Guyana REDD+ Investment Fund (GRIF).