GUYANA Power and Light Inc. (GPL) and the Mayor and City Council of Georgetown (M&CC) have signed a Memorandum of Understanding (MoU) to advance the acquisition of land for the construction of the Princes Street Substation, a new 69kV/13.8kV Gas Insulated Switchgear (GIS) Substation in Georgetown.
The MoU was signed by Mayor of Georgetown His Worship Alfred Mentore and Head of GPL’s Executive Management Committee Mr. Kesh Nandlall. Also present at the signing were GPL’s Director Mr. Ryan Ross; Deputy Mayor Denise Miller; Town Clerk Candace Nelson; and other representatives of GPL and the M&CC.
The agreement provides for the proposed conveyance of approximately 0.97 acres of vacant municipal land at Princes Street to GPL for the construction and operation of the Substation, subject to the requisite statutory approvals and completion of the conveyance process.
The agreement also provides for GPL and the M&CC to reconcile outstanding financial obligations between the two entities. GPL will determine and confirm the outstanding electricity charges owed by the M&CC for its buildings and street lighting, where applicable, while the M&CC will determine the outstanding rates and taxes owed by GPL in relation to GPL properties and locations.
The value of the Princes Street property will be determined by the State Valuation Department of the Ministry of Finance, and credited against the reconciled balance. The parties will offset the respective amounts owed, and agree on a net settlement, with any remaining balance to be settled in a manner mutually agreed by GPL and the M&CC.
The Princes Street Substation will form part of GPL’s ongoing national transmission and distribution expansion project, and is intended to strengthen the electricity network and support improved grid reliability.
Speaking at the signing, Mr. Nandlall welcomed the partnership, and highlighted the importance of ensuring that GPL’s ongoing infrastructure development includes strategic investments within Georgetown.
“I am happy that we can do this. Importantly, as we continue to develop our infrastructure, we also have to develop the infrastructure within the city. Princes Street is a central location where we want to establish a Substation, which will be interconnected with the existing New Georgetown Substation & Kingston Substation,” Mr. Nandlall said.
The signing represents continued collaboration between GPL and the M&CC to advance infrastructure development within Georgetown while addressing matters of mutual interest between the two entities.
GPL continues to advance investments aimed at strengthening and modernising the national transmission and distribution network to improve the reliability and resilience of electricity service to customers.