TT: Been there, done that?

Government is seeking tenders for construction of a new power plant, Energy Minister Eric Williams says.

He said yesterday the new power plant was needed to facilitate the operations of a new aluminium smelter.

“There is a tender out for the supply of the power plant. We’ve already negotiated where the gas will be coming from.”
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The tender for the new power plant comes amidst Government’s ungoing corruption probe into InnCogen, the controversial electricity generation plant in Point Lisas.

That plant was initially set up by the UNC administration in 1999, to provide power for Innercob Industries proposed for Central Trinidad. That never materialised.

The bulk of the power provided by InnCogen was sold to T&TEC under a power purchase agreement.

Analysts say aluminium companies are trying to stake claims to low-cost energy regions, as some plants face difficulties in getting low-cost electricity.

Williams said Alcoa would not have a stake in the new power plant.

The size of the investment in the aluminium industry, which will pass US$1 billion, would lift T&T’s profile as an investment destination and its suitability as the FTAA headquarters.