THE Amaila Falls Hydropower Project (AFHP), once completed, would have tremendous benefits not only for Guyana, but for the entire Caribbean region as well.

Thus said His Excellency President Donald Ramotar while addressing the opening of the 44th Annual General Assembly of the Caribbean Broadcasting Union (CBU) at the Guyana International Conference Centre (GICC) at Liliendaal, Greater Georgetown yesterday.

Noting that Guyana has had several years of robust economic growth within a global environment plagued with financial and economic problems, the President stressed that a major impediment to continued economic prosperity — in modernising the country and improving the conditions of its people — is “the bothersome cost of energy.”

Pointing out that Guyanese people and many of their past leaders had always wanted to harness the country’s huge water resources’ potential as an alternative source of energy, the President said that in spite of the issues the AFHP faces at this time, he is still determined to realise the project; and he said it would have tremendous transformative effects on Guyana’s development, while also benefiting the region as a whole.

Completion of the AFHP has been threatened after Sithe Global withdrew from the project, expressing that national consensus was required for a project of this magnitude.

Amendments to the Hydro-electric Act and an increase in the debt ceiling on external loans, both critical to the hydropower project, were not supported by the main opposition party, A Partnership for National Unity (APNU). Nevertheless, President Ramotar said, “It will be a proud day, not only for Guyanese but for the entire Caribbean, if we can produce energy in a big way from a source other than fossil fuel.

“An economically stronger Guyana means a stronger region, and we can contribute more to the deepening of the integration process,” he said.