Contract signed for Wales multi-million dollar natural gas plant
Tuesday marked the signing of the contract between the Government of Guyana and LINDSAYCA/CH4 for the building of the integrated Natural Gas Liquids (NGL) Plant and the 300-megawatt (MW) combined-cycle gas turbine (CCGT) power plant at Wales, West Coast Demerara (WCD), Region Three.
The historic contract signing for the $759 million project took held in the President’s Office on Shiv Chanderpaul Drive. His Excellency, Dr. Mohamed Irfaan Ali, the Vice President, Dr. Bharrat Jagdeo, and the Prime Minister, Brigadier (Retired) Mark Phillips, were present.
During his remarks, President Ali stated that the transformative initiative will provide Guyana with immense economic potential.
He said that the programme will assist to create local capability, particularly among the young people participating, particularly during the project’s early phases of execution.
“This is the largest project we have ever undertaken as a nation, which carries its own problems, but also provides us with a chance to grow capacity,” he added.
President Ali made it clear that the government’s commitment to the Amaila Falls Hydro Power project is unaffected by the project. He stated that it is instead part of the administration’s national and regional energy strategy.
The Vice President, Dr. Jagdeo, reaffirmed the administration’s commitment to developing the project in accordance with the highest international environmental, procurement, engineering, bidding, and assessment standards.
“Given the significance of this project, its magnitude, and its revolutionary character, we had to do it right, and we’re certain that LINDSAYCA/CH4 will deliver on the project,” he stated.
Dr. Jagdeo stated that the initiative is consistent with the PPP/C Government’s pledge to provide Guyanese with cheaper and more dependable power and is in line with the country’s low carbon strategy.
“This project will allow us to decarbonize the energy sector alongside hydro coming shortly and solar panels that have already been tendered for in order to treble installed capacity and reduce emissions by 70%,” he stated.
The vice president emphasised the need of on-time delivery, quality work, and budget adherence.
Sarah-Ann Lynch, the United States (US) ambassador to Guyana, remarked that the historic initiative will create new economic diversification prospects.
The agreement was signed by Derrick Cummings, permanent secretary of the Prime Minister’s Office, and representatives of LINDSAYCA/CH4.
Once finished, it is anticipated that the project would supply electricity for less than half the present price.
Taking into consideration payment for the pipeline, operations and maintenance, and capital cost recovery, the project’s generation costs will be less than five cents per kilowatt-hour.
Dr. Ashni Singh, Senior Minister in the Office of the President with responsibility for Finances, and Vickram Bharrat, Minister of Natural Resources, were also present.
