Sith Global Withdraws from the Amaila Hydro Power Project- Sithe Global Press Release

August 11, 2013 - Sithe Global thanks the people of Guyana for comprehensively considering the Amaila Falls Hydroelectric (AHP) Project.

The Project was supported by the PPP, AFC and virtually all other non‐partisan organizations that reviewed the Project. However, it was not supported unanimously by all three political parties, a necessary prerequisite to the Project receiving international development funds required to complete it. Thus, the Project cannot move forward, despite 16 years of work and overUS$16million of independent Sithe Global expenditures and more thanUS$15million of government expenditures.

We had hoped that the Project's 40‐91% reduction to power prices for consumers (attached image), its significant environmental benefits and material positive impact on the economy via access to low‐cost, reliable power would have been sufficient for all political parties to support such a non‐partisan Project that would have served as a catalyst for growth for generations to come.

Unfortunately, not all parties were willing to set aside politics for the broader public good and, as a result, we today reluctantly announce our withdrawal from the Project.

While our efforts have come to a close, we again take this opportunity to thank you, the people of Guyana, for your full consideration of the Amaila Falls Hydroelectric Project.