The construction of the new 230 kV transmission line to facilitate the Gas to Energy (GtE) Project is progressing.
Guyana Power and Light Inc. (GPL) has announced that, to accommodate the work, customers in the Grove to Garden of Eden areas along the East Bank of Demerara (EBD) will experience a temporary interruption of electricity supply from 9:00 hrs to 15:00 hrs on Friday.
GPL emphasized that the $2 billion GtE project is expected to significantly reduce electricity costs for consumers and address the growing demand for electricity.
Vice President Dr. Bharrat Jagdeo recently noted that, despite delays caused by ongoing arbitration processes and challenges with equipment delivery, the project remains on track for completion.
The project aims to harness the nation’s natural gas resources to advance sustainable economic development.
The arbitration follows claims by the contracted company, Lindsayca/CH4, that it is owed $50 million for delays in the project’s commencement.
Earlier this year, a ruling was issued between both parties confirming that the dispute must remain confidential, with a 28-day window to decide whether to proceed to arbitration.
Given the economic boom across multiple sectors, the government is investing in this massive facility to reduce electricity costs by 50 per cent, which will attract foreign investment and help meet the growing demand for power.
Earlier this year, Guyana and the United States Export-Import (EXIM) Bank signed a US$527 million loan agreement to further support the development of the GtE project.
