This is the Conclusion from the report:
Conclusion
From a financial and economic point of view, development of Amaila Falls seems to be the optimal solution for meeting the electricity demand in Guyana. The project should be financially restructured in order to make it more attractive for GOG and potential investors. Since the perceived risks of investing in Guyana are high, mainly due to political and regulatory reasons, one possible way for Norway to support the project would be to issue guarantees to the project for the repayment of the loan. This would reduce the financing costs substantially, and the risks for the equity sponsor of the project. We recommend that possible guarantee support mechanisms are evaluated as part of the further work on the project.
The financing challenge as a result of the perceived risk of investing in Guyana would be the same for all projects of a similar size, and substituting AFHP with another hydropower project of a similar size would not make any difference. With the suggested financial restructuring of the project, the annual payments from GPL may be reduced by 20% compared to the original proposal, and the annual costs for GPL would significantly lower than operating the existing thermal plants in Guyana.
Here is an interesting paragraph in the report:
Amaila Falls alone cannot provide a 100% emission free power generation in Guyana. Other generating sources will have to be added in parallel like sun, wind and thermal production based on emission neutral fuel (bagasse) for back-up in the dry periods when the water flow to AFHP may be insufficient for full capacity operation. As the power demand is growing, and for reaching the goal of 100% emission free generation by 2025, as assumed by the LCDS, a second hydropower plant of capacity comparable with AFHP will have to be commissioned by 2025. In parallel with preparations for AFHP, therefore, pre-feasibility studies will have to be carried out for promising candidates for the second hydropower project and a full feasibility study be performed for the selected candidate.
Another paragraph:
Our estimate is that 3 years will be required from a decision is taken to resume project preparation for AFHP until Financial Close and Notice to Commence to the EPC Contractor.
From this point in time, we estimate another 3.5 years for construction until start commercial operation of Amaila Falls Hydropower Project.