Lindsayca reportedly runs out of money to complete Wales Gas-to-Energy project

(Kaieteur News) – Lindsayca Guyana Inc., the Houston-based engineering firm tasked with developing Phase One of the Gas-to-Energy (GTE) project at Wales, West Bank Demerara is quickly running out of money to finance the completion of the venture, raising questions over the contractor’s likelihood of delivering electricity to the national grid by the end of this year, as promised, again.

Sources close to the project and in government told this newspaper that the contractor is set to exhaust its funding by the end of September and has requested more than US$100M more to help fund the delayed works. Company documents seen by Kaieteur News confirm that Lindsayca has requested about US$170M more from the Government of Guyana (GoG) to complete the energy project, a 22% increase in its initial contract sum of US$759M.

In its Annual report for the year ended December 2024, Lindsayca stated, “negotiations with the Government of Guyana for a significant contract price adjustment are at an advanced stage, providing strong evidence of the Group’s ability to continue to meet its commitments.”