GEORGETOWN – The United States Export-Import (EXIM) on Thursday announced that it has granted approval for Guyana’s Gas-to-Energy (GtE) Project valued at over US$526 million at their Board Meeting.
This was disclosed by the President and Chair of the US EXIM Reta Jo Lewis in a phone call to President Dr Irfaan Ali.
The bank made the decision during a meeting held early Thursday, having completed the 35-day congressional notice period.
The GtE Project is slated to deliver 300MW of Power to the grid when completed, expanding the supply of electricity, cutting the carbon footprint per kilowatt hour, and reducing energy costs to consumers by 50 percent.
Ali thanked Lewis and her team for the approval granted and for the confidence shown in this GtE project and in Guyana.
Ali also commended the Guyana team at the Office of the President, Ministry of Finance, Ministry of Natural Resources, and the Guyana Embassy in Washington DC, whose work helped secure this important outcome for the country. (CMC)
