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Brazilian group had expressed hydro, smelter interests in Guyana

Dec 17, 2010 News

In 2008 Paul Hardy took Joao Villa Garcia, founder and principal equity holder of the Brazilian group, Triunfo, to meet with the Prime Minister Samuel Hinds and others of the Guyana Energy Agency and the Electricity group of the Office of the Prime Minister, in order to present their ideas for a large development in Guyana, including hydropower sites totalling more than 2000 MW for an aluminium smelter in Guyana and electricity sales to Brazil.
This is according a document that this newspaper managed to obtain that was dispatched by Hinds to President Bharrat Jagdeo, and which stated that Triunfo had done some research on Guyana and thus was aware of proposed and related developments in Guyana.
Triunfo at that time of the meeting claimed to have caught the interest of: Electrobras which was interested in importing electricity into Boa Vista and Manaus; Voltarantin which was interested in establishing a smelter and possibly bauxite and alumina operations; BNDES a Brazilian National Development Bank and GE – Capital, a financing company with which Triunfo had already worked to develop a number of projects.
The total investment in Guyana which was proposed by the grouping was US$8M.
Triunfo at that time, according to the Prime Minister, had pointed out that often such large developments require    a consortium approach to spread risks and active strong Government leadership to keep potential partners together and to assure the bankers and insurers of sovereign approval and support.
Hardy had given the Prime Minister a letter from Garcia which was addressed to Jagdeo, indicating the company’s proposal
Hardy had reiterated that the Triunfo group would like to receive the blessings and guidance of the Government of Guyana to meet with RUSAL, BOSAI, ENMAN, to see what form of development consortium might be put together.
According to the Prime Minister, Hardy said that the Triunfo group was interested in moving ahead quickly, did not want to pressure anyone unduly, and was open to offering to buy out persons of whatever rights they might have accumulated in their studies so far.
“I think that it would be useful here to put some of the relevant facts/beliefs/aspirations on the table…For large scale hydro development, one would look to the coordinated, staged development of the Mazaruni, Potaro and Essequibo river valleys aiming for some optimal disposition which may be constituted of several approaches.
One such project is one at Mazaruni which would be a 1500 MW Chi Chi diversion to the Amaila/ Kuribrong; a 2000 MW plant at Upper Mazaruni; a 600 MW plant at Turtruba.
In Potaro 400 MW plant between latuk, Kaieteur and Tumatumari and the initial 100 MW plant on the Amaila/Kuribrong.
Upper Essequibo a plant was proposed for a 200 MW plant from King George V group; a 300 MW plant from Takwari group and a 200 MW plant from Arisaru.”
According to Hinds, “It may be timely now to arrange for one or more experienced and expert groups to quickly review and update all that is known of the Mazaruni, Potaro, Essequibo and Cuyuni river basins so as to propose coordinated, staged optimized development…The large number of other smaller hydro-power sites may be developed to meet local area needs as they arise.”
Hinds also noted that, “These are a number of inter-related approaches on our table which need your consideration and guidance…In my meetings so far, I believe that the Triunfo group is earnest and capable…It would be good for you to have Triunfo meet with you so that you may form your own judgement and provide the appropriate guidance.”
It is unclear if the group ever met President Jagdeo but the project never became a reality and the Guyana Government is now proceeding with the Amaila Falls Hydroelectric project.

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