Kumul Consolidated Holdings Chairman, Paul Nerau, said this during a dinner ceremony in Port Moresby on Wednesday signaling the opening of the Shenzhen Energy Project Office in Port Moresby.
Nerau said the Project is a milestone project that will benefit millions of people in the country including EHP and Morobe.
“This particular project will be the revenue game changer for Papua New Guinea, especially in Morobe and Eastern Highland Province,” he said.
“Ladies and gentlemen we don’t have to be rocket scientists to understand that this country over the last 40 years survived on two hydro power; Yonki and Sirinumu Dam, that provided the power for this country.
“This hydro (power project) that we are witnessing this evening is in fact a major project that feeds into the already existing hydropower in this country,” Nerau said.
The Ramu 2 Hydro Power Project will be developed by Chinese firms, Shenzen Energy, and Sinohydro.
Senior representatives from both companies as well as government delegates from the Shenzhen Municipal Authority attended the event.
Also present at the dinner was Minister for Sports, National Events, and APEC, Justin Tkatchenko, Morobe Governor, Kelly naru, and Eastern Highlands Governor, Julie Soso.
The Ramu 2 Hydro Power Project is located downstream from the existing Yonki Dam and is capable of generating 180 megawatts (MW) of renewable energy.
It is expected to lift Yonki’s electricity capacity from the current 93MW (once all major refurbishment and upgrade works are completed) to 273MW, an expansion of 194% in scheme’s generation capacity.
More significantly, Ramu 2 is expected to increase total electricity generation capacity in Papua New Guinea by 36% by way of a low-cost renewable source.
And official signing ceremony for work to begin on the program will be announced.