Amaila Falls Project, destroying Guyana’s pristine forests – financed by China, racketeering by Sithe Global
is destroying places like this what's meant by low carbon development strategy? destroying pristine nature for a hydro dam?
The Amaila Falls project is a 140 MW hydro project located in western Guyana, a small South American country. Currently, all generation in Guyana is provided through small units burning either diesel or heavy fuel oil. The Amaila Falls project would be a substitute for these expensive and mostly outdated generation facilities.
It would not only represent a clean generation source, but also represent important foreign exchange savings for the country by reducing Guyana’s dependence on expensive imported fuels. The location of the plant requires no human habitat displacements and the plant factor and water flow represents a relatively small inundation area for the generation capacity of the plant. The reliable and more economic source of electricity would also likely encourage investors to assess possible investments in the mining sector in Guyana, which has often been identified as having substantial potential. (hello LCDS!!!)
The project design corresponds to a full technical feasibility study. The project includes a 300 km transmission line to the substation near Georgetown (the capital), as well as a newly built and upgraded access road. The project has a valid Environmental Impact Study and has obtained several of the required government approvals.. All of the energy generated by the project will be taken by the government-owned utility (Guyana Power and Light) through a long term Power Purchase Agreement , as well as an “Assignment of Receivables Agreement”, which ensures the payment via pass-through payment from end use customers. (hmmmmmmmmm)
Rafael S. Herz
Senior Vice-President
Project Manager: Amaila Falls
China, IDB, to finance $500 mln Guyana hydro project
Fri Nov 13, 2009 9:55pm EST
GEORGETOWN, Nov 13 (Reuters) – Two international development banks are to finance a $500 million hydro electricity projects in Guyana, aimed at bringing down energy costs in the poor South American nation.
President Bharrat Jagdeo told reporters on Friday the Inter-American Development Bank and the China Development Bank had agreed to back the Amaila Falls project at a recent meeting in Washington.
“Everything seems to be on track to start the project by mid-next year,” Jagdeo said. Details of the terms of financing are still to be agreed, he said.
Amalia Falls is located deep in Guyana’s interior and has been vaunted as a potential electricity generation site for decades. The Guyana government is spending $20 million in preparatory works, such as building the access road.
The developer in the project, Sithe Global Power, LLC, based in New York, has committed financing to the tune of US$130 million, Jagdeo said.
In 2008, Guyana spent about 40 percent of the country’s gross domestic product on importing fossil fuel based energy sources and is keen to develop alternative power sources.
(Reporting by Neil Marks; Editing Bernard Orr)
china development bank’s website does not have anything repeat ANYTHING about Guyana
http://www.cdb.com.cn/English/index.asp
things that make you go hmmmm fucking hmmmmmmmmm