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Govt. green lights US$50M-plus Hope Beach wind farm
A stalled wind farm project that would have added over 25 megawatts of additional power to the national grid is back on track with Government yesterday announcing that it has granted approval.
Businessman,
Lloyd Singh
The US$50M-plus project, which is being spearheaded by city businessman, Lloyd Singh and a number of other investors, will now see Government working to sign a power purchase agreement between the Guyana Power and Light Inc. (GPL) and the developer, Guyana Windfarm Inc.
During a press conference at his Kingston office yesterday, Minister of Public Infrastructure, David Patterson, disclosed that the Cabinet of Ministers has given its no objection to examine the proposal in detail.
The review will be to ensure that the project, slated to be built at Hope Beach, East Coast Demerara, meet the required criteria.
The developer will now commence discussions with GPL for the terms and conditions regarding the purchase of the power that will be generated.
According to Patterson, the proposal outlined 12-cents per kilowatt hour fee, with the investor already submitting documentations and assuring that financing has been secured.
An artist’s impression of the 26Mw Wind Farm at Hope Beach, East Coast Demerara.
The Ministry of Public Infrastructure will now proceed with due diligence with regard to the proposal, with a view of concretizing the deal.
The project has been before the previous government of the People’s Progressive Party/Civic (PPP/C), with the Environmental Protection Agency (EPA) even publishing a notice giving persons 30 days to file objections.
EPA had determined that the Guyana Windfarm Inc. is not required to submit an Environmental Impact Assessment (EIA).
In June last year, former Prime Minister Sam Hinds disclosed that Government is lending its support behind the ambitious project which could become operational in as little as a year after construction starts.
But there was little word after then about the project until now.
It was reported that the developer, through GoldWind of China, is planning to install 10 turbines, each capable of producing 2.5Mw.
GoldWind is rated at least third in the world in the establishment of wind-farms. Already, Hinds had said, Republic Bank has offered to support the project with a US$2M loan.
The Hope Beach project is a Build, Own, Operate, Transfer (BOOT) model with a useful life of about 20 years.
The Hope Beach project had been one in the making for a while.
In 2000, the Caribbean Development Bank financed an engineering survey of the potential of wind along the coast for the large-scale production of electricity.
Delta Caribbean of Curacao which had established a wind-farm in Curacao – had shown interest. But the company could not close financing and pulled out in 2006.
Guyana Wind-Farm Inc is partially owned by Lloyd Singh, the main principal in International Pharmaceutical Agency Group, a supplier of drugs to Government.
Guyana would badly want additional, cheaper power as several new housing schemes and a number of new industries continue to spring up, spurring an increased demand for power.
The country is heavily dependent on imported oil to meet its energy needs.
The previous administration has been pinning hopes on a 165-megawatt (MW) hydro electric project at Amaila Falls, Region Eight to meet demands.
However, that project has been shelved by the new administration which cited high costs, among other things after the US developer, Sithe Global, pulled out.
This was after the National Assembly remained divided on key legislation that was critical to the funding of the US$840M-plus project.
GPL using the cheaper, heavy fuel oil is reportedly generating at around 18 US cents per kilowatt. (Leonard Gildarie)
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