Georgetown: After pulling out from the Amaila Falls Hydroelectric Project (AHP) in Guyana, Sithe Global explains that it was unfortunate Guyana’s political parties were not willing to set aside politics for the greater public good.
The company in a statement noted that because of lack of consensus, the company abandoned what would have been the country’s largest investment project since the main opposition A Partnership for National Unity (APNU) remained steadfast in its refusal to support Bills in the National Assembly.
APNU and Alliance For Change (AFC) make up the majority block in Parliament.
Sithe Global underscored that “The project was supported by the PPP, AFC and virtually all other non-partisan organisations 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.”
Adding that it had no choice but to reluctantly withdraw from the project, Sithe Global noted that “We had hoped that the project’s 40-91% reduction to power prices for consumers, its significant environmental benefits and material positive impact on the economy via access to low-cost power would have been sufficient for all parties to support such a non-partisan project that would have served as a catalyst for growth for generations to come.”
The Sithe Global team has over 300 years of collective experience in development, construction, and operations of electric generation facilities. It is unclear if Guyana will be able to attract another investor, particularly of the same caliber, to undertake such a project in the near future.
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