Press Release

GPL Inc. position on Power Purchase Agreements

GPL Inc. position on Power Purchase Agreements

September 5, 2019. Georgetown, Guyana: In line with the Government’s vision to enhance the generating and reserve capacity of GPL Inc., and to meet the needs of its customers, the new Board of Directors (“The Board”) of GPL considered the proposal from MCG Investments Inc (Giftland Mall) to enter into a Power Purchase Agreement (PPA) with GPL Inc.

In furtherance of its consideration, the Board authorised GPL to move forward efforts to finalize a PPA Agreement with MCG Investments Inc. that met the needs and interests of the Company. The Board also instructed GPL Inc. to ensure all of the legal and regulatory modalities were satisfied.

Whilst the legal and regulatory modalities are being completed, the Board also authorised GPL Inc. to commence inviting Expressions of Interest (EoIs) from other potential power providers with immediately available generation capacity who may be interested in supplying electricity to GPL Inc.