Amaila Falls hydropower project attracts interest of partner nations

The Amaila Falls hydropower project, anticipated to bring 160 megawatts of power into the national grid, was temporarily obstructed by the unsuccessful securing of the essential financing towards the Build, Own, Operate and Transfer (BOOT) model. The China Railway Group Ltd., chosen in 2012 for its construction, was once again granted approval in 2021 to begin execution, though plans faltered after the lack of financing. Upon their request to restructure to a Engineering, Procurement and Construction (EPC) model, the Administration decided that the renewable energy project would be more effectualised by an organisation able-and-willing to pursue the BOOT arrangement. As equity is transferred to the local investor in due course as part of the scheme, it was critically assumed that this is the best fit for the government to remain with a low degree of risk. In this regard, Canada, the United States of America, and Korea have expressed interest in submitting proposals of this type. According to the terms of the Low Carbon Development Strategy, the diversification of the energy mix involves greatly, the hydropower project, to which the current electricity transmission will be phased out by the use of about 70% of the non-renewable, fossil fuels by 2027, together with natural gas and renewable energy sources.

Source(Image: Department of Public Information (2021), bnamericas (2022))

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19 Dec 2022 15:45 | by anaraine

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