The government will soon issue a Request for Proposals (RFP) for a second massive power plant, driving up the country’s energy supply and its ability to support other countries.

This is according to President Dr. Irfaan Ali recently confirmed that the RFP would be published soon as the government forges ahead with plans to expand the local manufacturing sector.

The Head of State opined that Guyana has many natural advantages to be a competive player in the manufacturing sector. Those include abundant raw materials, a skilled labour force and its geographic location.

However, he acknowledged the the country has long been beset by a high cost of energy.

To remedy this, at least in the short term, a massive 300 megawatt (MW) natural gas-fired power plant is being developed at Wales, on the West Bank of Demerara. Gas produced in the lucrative Stabroek Block offshore will be brought onshore to power this plant.

The project should be operational by 2025, slashing the cost of electricity in half. Accoridng to the President, that should reduce the expenses for ordinary citizens while also stimulating an expansion of business- especially the manufacturing sector which needs huge amounts of energy.

Looking ahead, the government believes that Guyana’s energy needs will continue to grow.

“We already assessed that we will need a second power plant and very soon, we will be launching this request for a second power plant.

“So in the overall ecosystem that supports manufacturing, Guyana will be one of the most competitive locations for investments in manufacturing,” President Ali said during an interview with the News Room.

At an event last week, Finance Minisiter Dr. Ashni Singh revealed that Guyana could have an additional 600 to 800 MW of power by the end of this decade. And he too revealed that the government would soon issue a RFP for the second power plant.

Meanwhile, as he delved deeper into the venture, the President said Guyana should become a net producer of energy that could possibly export excess energy to Suriname or northern Brazil.

He also believes that new business opportunities would arise.

One opportunity, according to him, is the establishment of huge data centres here. Like manufacturing ventures, data centres need copious amounts of energy which, according to the President, Guyana should have at an inexpensive price.

“If our energy costs could make a data centre competitive here, why not have one?” the President quizzed.

With these plans in the pipeline and under discussion, the Guyanese leader urged foreign and local investors to invest in Guyana. And he said the upcoming International Business Conference is a good opportunity to scope out the opportunities and form much-needed partnerships.

The inaugural IBC is set for October 15 to 17 at the Marriott Hotel in Kingston, Georgetown.

 

SOURCE