See below the full release issued by the US Embassy in Georgetown on Thursday (Dec 26):
Today, the Board of Directors at the Export-Import Bank of the United States (EXIM) approved more than $526 million to the Ministry of Finance of the Cooperative Republic of Guyana to support a gas-to-energy project.
The half-billion-dollar financing from today’s approval will support the construction of a state of the art natural gas separation plant, a 300 MW combined cycle gas turbine power plant, and services related to the gas supply pipeline located at Wales, West Bank Demerara. This project will allow Guyana to transition to more reliable and cleaner energy for consumers and businesses by using natural gas to generate electricity. The project will also enable Guyana to strengthen its energy security by doubling the country’s installed electric capacity and unlocking economic growth potential for local Guyanese companies of all sizes. The United States Embassy is proud of this historic project and partnership.
“I am extremely pleased that the Board of Directors approved today’s Gas-to-Energy Project,” said President and Chair Reta Jo Lewis. “I am especially proud to continue to support Bank priorities and charter mandates along with projects that align with the Administration’s economic, energy, and national security priorities.”
The financing will support a U.S. joint venture involving Lindsayca, a Texas-based company, and Puerto Rican small business, CH4 Systems, and services provided by ExxonMobil. This work is being conducted by U.S. and Guyanese companies. 85% of the 500 employees currently supporting this project on site are Guyanese.
Ambassador Theriot said, “I am thrilled that the Board has approved the financing for this groundbreaking project.” She added, “By working with U.S. companies, Guyana will benefit from a first-in-class power plant where quality and safety are at the forefront. We look forward to even more transformational projects where U.S. and Guyanese companies can partner for the benefit of the Guyanese people.”
About EXIM:
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at
www.exim.gov.
