GEORGETOWN, Guyana (AP) — Guyana is scrapping plans to build a $2.6 billion hydropower plant following concerns about the cost of a project that has been repeatedly delayed.
Finance Minister Winston Jordan said Wednesday that the cost would be more than double the country's external debt.
The project aimed to generate 165 megawatts to end rolling blackouts and provide cheaper and cleaner electricity, especially to rural jungle communities.
Jordan said officials are now researching a large waterfall near the border with Venezuela as the possible site for a larger and cheaper plant with help from Brazil's government.
He also said officials will encourage the private sector to help build small hydropower plants and sell power to the government.