No agreement inked yet with DR’s InterEnergy but company’s proposal lower than others

The government could hire the Dominican Republic’s InterEnergy Group to supervise the grid upgrade and expansion work being undertaken by the Guyana Power and Light Inc. (GPL) but Vice President Dr. Bharrat Jagdeo clarified that negotiations are still ongoing with the company.

“The InterEnergy agreement has not been signed yet, the negotiation is going on.

“… we now need to see that they are actually delivering on what is the proposal,” Jagdeo told reporters at his weekly press conference on Thursday, a day after reports emerged about the government’s intention to possibly hire the company.

A Memorandum of Understanding (MoU) was inked with the company last year. The proposal received from the company to support GPL was one of several such documents received from different companies, Jagdeo said.

However, it is believed that InterEnergy would provide supervisory services of an international standard as GPL’s grid is modernised. Additionally, Jagdeo highlighted that their proposal was more cost-effective.

“When you build those things [the new electricity grid], you build to international standards.

“You have to get a firm to supervise it and often a firm to supervise the project, they come between 5-8 % of the contract price. This is lower, significantly lower,” he explained.

However, he clarified that no agreement was signed and it is not likely that the agreement would be inked before the September 1, 2025 General and Regional Elections.