I don’t want to say it, but I told you so !

I don’t believe there is anyone in Jamaica who has written about Energy World International and Corporation as this blog has done.  This blog has not only been examining the financial records of the entity, we have also looked at the financing of the project, examined the cost structure to determine final cost of electricity to be generated.

We have looked at the conduct of the Energy Minister and that of the OUR and have commented as we see fit in each of those cases.

I did mention in a number of articles on the position of the OUR and how its members are likely to find themselves in an embarrassing position, that could threaten their careers if they fail to carry out their jobs as in independent regulator.

We are at that point now, given that the IDB, which is an international lending agency with a solid reputation has rejected the OUR position on EWI entry into the bidding process and accepted the OCG position on this matter. This is a solid blow for the OUR and the only thing that they must now all do to save their careers is to get the hell out and leave Phillip Paulwell alone to face the music. Paulwell is very slick and I am sure in the coming days, he will try to extricate himself and lay the blame on the hapless OUR .

See http://wp.me/pvIkx-1zQ

The other issue I wrote about was the ability EWI/EWC to finance the project and this was what I wrote back then ( October 19, 2013).

 

EWI post 1% bid bond, so are we now in the clear ?

The big question for me is how does EWI/EWC plan to finance this project. Given the controversy surrounding this project, I do not see the IDB or world bank lending any money to EWC, which leaves only the China Exim bank , as no one else has enough money to undertake such a project

 

http://wp.me/pvIkx-1Cv

 

Yesterday, my position on the matter of the IDB lending money to EWI/EWC has been confirmed, which comes as a surprize to many but not to commonsenseja.

 

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One Response

  1. So now Paulwell is suggesting the OCG and the OUR is at fault and he is a mere bystander, again ” I told you so”.

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