Amaila Hydro project…Price jumps to US$915M

Amaila Hydro project…Price jumps to US$915M

AUGUST 29, 2013 | BY  | FILED UNDER NEWS

 …addition US$57.2 unearthed in project document

The Guyana Government has committed US$157.2 to the Amaila Falls Hydro Electric Project, US$57.2M more than the US$100M that it has been maintaining all along.
This was contained in the ‘Confidential Project Document’ leaked to this publication. This means that the revised price tag is now in excess of US$915M.
According to the project document for the Hydro Electric Plant, in 2014 and 2015 the Government has under its ‘financial commitment’ to the project, committed  US$21M to be paid each year from its Fund for Special Operations  [Read more]

Months after US$ 902M Hydro Plant kicks in…Uganda forced to increase electricity tariff

AUGUST 28, 2013 | BY  | FILED UNDER NEWS

…Sithe Global rate of return on project similar to Guyana’s 19%  

Sithe Global, the developer for the Amaila Falls Hydro Electric Project, also built the US$902M, 250MW Hydro Plant in Bujagali, Uganda, and the power company in the African nation is once again being forced to ask for an increase in electricity tariff.   The request comes just months after that Hydro Electric Plant would have been commissioned.  
In April this year it was reported in the international news that the Uganda Electricity Regulatory Authority (ERA)’s board of directors was considering a power tariff increase.
That increase in electricity is being considered just after huge increments of 69 per cent and 36 per cent for large scale and domestic consumers respectively early last year. The Ugandan ERA was seeking a further increase of between five and 15 per cent this year.
The Plant was commissioned last year.  The increase requested in Uganda is the second such request this year to raise the prices paid for electricity in that nation.   [Read more]

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