New York, New York, December 21, 2007 — Sithe Global Power, LLC, through its special purpose affiliate SG Bujagali Holdings, Ltd., (collectively, “Sithe Global”) announced today with its partner, Industrial Promotion Services (K) (“IPS”), an affiliate of the Aga Khan Fund for African Development (“AKFED”), that their jointly owned special purpose company, Bujagali Energy Limited (“BEL”), a Ugandan company, has closed financing on a USD 682MM construction debt facility for the 250 MW Bujagali hydroelectric station located on the Nile River in Uganda, Africa.