The fuel price currently stands at approximately US$130 per barrel

Jun 06, 2008 News 0

The proposed site for the AFHP is located on the Kuribrong River, a tributary of the Potaro River.
It (AFHP) has its genesis in an initial study that was carried out between 1974 and 1976 to explore the hydroelectric potential in the country under a grant from the United Nations.
AFHP is originally scheduled to add some 100 megawatts of electricity to the national grid and in time expand to 195 megawatts.
AFHP will be powered by the Amaila storage dam site to be located near the top of Amaila Falls and would impound the waters of both the Kuribrong and Amaila Rivers.
Following a series of meetings with Government, a Memorandum of Understanding was signed between the developers and Government on May 23, 2006 outlining the agreement to proceed with the development of AFHP.
The schedule that was agreed to had placed the start of construction of AFHP in August 2007 but to date there has been no financial closure, hence a standstill.
The licence was supposed to have expired in July and President Bharrat Jagdeo had promised to withdraw it but subsequently extended it to September.
According to Jagdeo, the country was looking to have investors build the plant.
Hinds also told the Economic Services Sector Committee of the National Assembly that there were also several other projects on stream in the alternative energy sector for electricity such as solar and wind farms.
He noted that currently there is an Inter-American Development Bank pilot project through which four villages are being outfitted with photovoltaic panels to utilise the rays of the sun to provide electricity.
Currently, the project is proving to be extremely expensive, costing $300,000 to outfit each home.
As it relates to wind farms, he noted that for interior locations there needs to be feasibility studies conducted first.
The wind farm project closest to realization is a proposal for Hope Beach on the East Coast of Demerara, according to Hinds.
“Biomass and biofuels such as ethanol are currently under review.”