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ENMAN heads US$1 Billion Hydro-Power Project in Guyana | ||
Trinidad based ENMAN Services Limited will lead a consortium of major international companies in the development of a US$1 billion hydroelectric power plant on the Mazaruni River in Guyana.
 Guyana Prime Minister Sam Hinds and ENMAN's Managing Director, Donald Baldeosingh, signed the Memorandum of Understanding on July 31 in Guyana. This Memorandum of Understanding provides a two-year period of exclusivity for ENMAN to fully evaluate the technical, financial, economic, social and environmental potential of developing the project. This project was conceptualized by ENMAN after a review of the findings of a 1976 study which was funded by the United Nations, to identify the most viable hydroelectric sites in Guyana. The Takwari Falls was first considered, but was rejected because of environmental sensitivities. On September 3, 2001 an amendment to the Memorandum of Understanding was made to allow for the development to take place at Turtruba. This site offers a larger power plant, lower construction cost, and easier access by locals to be employed. The proposed power plant is expected to generate up to 1,100 megawatts (MW) of power using the waters of the Marshall Falls located upstream of the Turtruba Rapids on the Mazaruni River and to supply aluminium industries which will be considered as part of the project. Additionally, direct sale of power to Brazil is being explored. Prime Minister Hinds stated that his government sanctions the initiative by ENMAN and expects this project to enhance the further economic development of Guyana. He said, "We, in Guyana, have had a number of dreams, and one of them has been to develop our hydro-power potential." ENMAN's Managing Director, Baldeosingh, noted that the project presents "a great opportunity for energy integration in the Americas, for sustainable economic development, and for a great movement of technology, capital and other capabilities from Trinidad and Tobago - where it is very well established - into Guyana". He envisioned that a project of this magnitude will have "many dimensions and many implications" for Guyana, Trinidad and Tobago and the Caribbean region. He described the venture as "enormous" given its importance in terms of the infrastructural, economic and social development of Guyana and stated his company's intention to include Guyana's private sector in the development of the programme. Hydroelectric power is a renewable resource which offers an environmentally sound and eco-friendly solution to the growing demands on the world's power supply as it reduces the dependency on fossil fuels which are linked to greenhouse gases that lead to global warming. This itself indicates the potential for a host of benefits towards the development and sustainability of an eco-tourism industry in Guyana. It is expected that the availability and cost effectiveness of this resource would lead to the mushrooming of a number of industries which have previously been hampered by the escalating cost and unreliability of the fossil fuelled power sector. As the project comes on stream, it is expected to generate employment for several hundred persons throughout the various phases. Some of the activities which are expected to emerge from this project include construction of a dam, hydroelectric power generation, construction of transmission lines, alumina and aluminium production, development and maintenance of associated utilities and housing settlements, and finally the actual operation of the power plant. At present, ENMAN is engaged in compiling all available information necessary and is revalidating the Pre-feasibility Study. This will be followed by a full feasibility evaluation exercise. As per the terms contained in the Memorandum of Understanding, this process is intended to be complete in the next two years. In anticipation of the immediate commencement of the feasibility studies, Baldeosingh explained that the initial part of the project would be financed by the partners. He added that the company would work on acquiring further financing from major agencies and contracting companies for the subsequent engineering and construction work. He informed that ENMAN is in the process of formulating the final consortium which will be announced soon. ENMAN hopes to make the project a model in terms of its approach to the scheme, execution of the feasibility evaluation exercise, procurement of finances, construction and the final operation of such plans. Baldeosingh stated, "We do not see ourselves as multinationals; we see ourselves as partners in neighbouring Caricom countries that will come and partner with friendly companies in Guyana, towards the establishment of these industries." According to the document signed by Prime Minister Hinds and Mr. Baldeosingh, once the feasibility study is positive, ENMAN would then be required to apply to the Government of Guyana for a license as an independent power producer to construct the plant. ENMAN looks forward to combining its resources with other investors in order to maximize the mutual benefits which will emanate from this project. See Press Room for more information Email hydropower@enmangroup.com |
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