{"id":26030,"date":"2025-02-01T21:28:33","date_gmt":"2025-02-01T21:28:33","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=26030"},"modified":"2025-02-01T21:28:34","modified_gmt":"2025-02-01T21:28:34","slug":"us-exim-bank-approves-526m-loan-for-guyanas-gas-to-energy-project","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/us-exim-bank-approves-526m-loan-for-guyanas-gas-to-energy-project\/","title":{"rendered":"US Exim Bank Approves $526M Loan for Guyana\u2019s Gas-to-Energy Project"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p><em>By Saskia Warrick \u2013 December 27, 2024<\/em><\/p>\n\n\n\n<p>Guyana\u2019s energy sector is poised for a significant transformation with the approval of a $526 million loan from the US Export-Import Bank to support the country\u2019s ambitious Gas-to-Energy (GTE) project. <\/p>\n\n\n\n<p>This initiative aims to boost energy security, cut emissions, and enhance the nation\u2019s electricity capacity.<\/p>\n\n\n\n<p>The project will double Guyana\u2019s installed electricity capacity and facilitate its transition to cleaner, more reliable energy. <\/p>\n\n\n\n<p>Key infrastructure, including a natural gas separation plant, a 300 MW combined cycle gas turbine power plant, and services tied to the gas supply pipeline near Georgetown, will now begin construction.<\/p>\n\n\n\n<p>PPP General Secretary and Vice President Dr. Bharrat Jagdeo expressed confidence in the project\u2019s success, criticizing opposition claims that the loan would not be approved. <\/p>\n\n\n\n<p>He clarified that the $526 million loan represents just 25% of the project\u2019s total $2 billion cost, with the remainder being financed through local resources and ExxonMobil Guyana.<\/p>\n\n\n\n<p>Dr. Jagdeo emphasized that the Gas-to-Energy project supports Guyana\u2019s transition to greener energy by significantly lowering emissions and reducing dependence on fossil fuels, such as fuel oil, which is one of the highest polluting energy sources. <\/p>\n\n\n\n<p>The project will also enable the decommissioning of inefficient local generators.<\/p>\n\n\n\n<p>In addition to its environmental benefits, the project is expected to spur economic growth by improving energy infrastructure, which is essential for Guyana\u2019s continued development.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Saskia Warrick \u2013 December 27, 2024 Guyana\u2019s energy sector is poised for a significant transformation with the approval of a $526 million loan from the US Export-Import Bank to&hellip;<\/p>\n","protected":false},"author":4,"featured_media":23081,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[361,363,350],"tags":[],"class_list":["post-26030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-economy","category-national-transformation","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/26030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=26030"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/26030\/revisions"}],"predecessor-version":[{"id":26031,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/26030\/revisions\/26031"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/23081"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=26030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=26030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=26030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}