US EXIM Bank Chairman in Guyana today to boost GtE project financing opportunities

Chairman of the US Export-Import Bank (EXIM), John Jovanovic, is set to arrive in Guyana today for high-level engagements aimed at reinforcing the United States’ commitment to Guyana’s transformative Wales Gas-to-Energy (GtE) project and exploring future development financing opportunities.
According to a statement from the US Embassy in Guyana, during his visit Jovanovic is scheduled to meet with President Irfaan Ali, representatives of the American Chamber of Commerce Guyana, and staff of Lindsayca Inc, the Houston-based contractor executing the GtE project.
In December 2024, the US EXIM Bank had approved a US$527 million loan to partially finance the US$759 million project. The agreement was officially signed in January 2025.
In its statement on Wednesday, the US Embassy said the visit will focus on strengthening economic cooperation, advancing discussions on the country’s flagship energy initiative, and reaffirming US support for future investment opportunities in Guyana.
“The visit demonstrates the US Government’s continued commitment to not only this landmark infrastructure initiative but also financing additional Guyanese development projects,” the embassy noted.
As part of its due diligence process during assessment for the loan, the EXIM conducted extensive assessments, including site visits in 2024. As part of the assessment, the US EXIM Bank had hired two consultants – Ramba Consulting Group, a professional Governmental consulting firm which did an environmental assessment of the GtE Project, and Sargent & Lundy, one of the world’s longest-standing full-service architect engineering firms, which did the technical assessment. The teams had found “no fatal flaws” from the technical and environmental due diligence work done.
US officials have continually noted their confidence in the Wales GtE project. US Ambassador to Guyana, Nicole Theriot, has described the project as “ground-breaking”, noting that Guyana stands to benefit from a “first-in-class power plant where quality and safety are at the forefront”.
Former EXIM Bank chair, Reta Jo Lewis, noted being “extremely pleased” with the loan approval for the project. Jovanovic succeeds Lewis as the new EXIM Bank Chair after taking up the role last December.
Conceptualised under the leadership of Vice President Bharrat Jagdeo, the GtE project represents the largest infrastructure investment in Guyana’s history. Once completed, it is expected to double the country’s installed electricity capacity, reduce electricity costs by approximately 50 per cent, and cut carbon dioxide emissions by more than 460,000 tonnes annually.
The project entails the construction of a natural gas separation plant, a 300-megawatt (MW) combined-cycle gas turbine power plant, and a gas supply pipeline. All developed at Wales on the West Bank, Demerara, the facility will be utilising natural gas from the offshore Liza Field in the Stabroek Block.
Construction has been advancing steadily, with all four gas turbines already installed as of January and significant progress made on key components, including the foundations for Heat Recovery Steam Generators (HRSGs).
The facility is designed to process approximately 50 million cubic feet of gas per day, converting it into electricity and marketable gas products.
The power plant will utilise four SGT-800 gas turbines in a combined-cycle configuration, delivering approximately 300 MW of power, with built-in redundancy to ensure reliable electricity supply.
The project is being executed by Lindsayca, which assumed full control following a split with its former partner CH4 due to internal disputes.
Upon completion, expected by the end of 2026, the project will significantly enhance Guyana’s energy security while laying the foundation for industrial expansion.
The GtE initiative is also central to plans for the Wales Development Zone, a proposed 1400-acre industrial hub that will host a range of activities, including fertiliser production, data centres, agro-processing and light manufacturing.