Sithe Global Power

What Sithe Global Power does

Sithe Global Power, LLC is a New York-headquartered (Hartsdale) international developer of electric generation facilities, formed in 2004 by Reservoir Capital Group and approximately 99% owned by The Blackstone Group since December 2010. The company develops, constructs, acquires, and operates large-scale generation assets in attractive markets where sophisticated development capabilities and patient sponsor capital are decisive. Its portfolio totals approximately 3,000 MW and nearly US$5 billion in capital investment potential, spanning four anchor assets across three continents: the Bujagali run-of-river hydroelectric project (250 MW) on the Nile River in Uganda; Goreway Station (875 MW) in Ontario, a natural gas combined cycle facility using GE Frame 7FB turbines with selective catalytic reduction; Mariveles Station (600+ MW) in the Philippines, using proven pulverized coal combustion; and Dinginin Station (1,336 MW, under construction in 2016) using supercritical pulverized coal technology.

The company's underlying capability is project development and structured finance rather than ongoing retail generation sales. Projects are structured as Public-Private Partnerships secured through competitive international bids, with electricity sold under long-term power purchase agreements to sovereign or quasi-sovereign offtakers—the Uganda Electricity Transmission Company Limited, the Ontario Power Authority, and Philippine buyers (including the Wholesale Electricity Spot Market). Financing is routinely assembled with multilateral and bilateral development banks; the Bujagali consortium included the World Bank Group (IDA Partial Risk Guarantee and IFC), the European Investment Bank, and the African Development Bank among twelve lenders. Sithe Global has demonstrated capability to monetize assets following commercial operation, exiting Goreway in 2011 (sale to Chubu Electric and Toyota Tsusho) and Dinginin in 2016 (sale to Aboitiz Corporation).

Revenue is generated primarily from the sale of electricity under long-term PPAs and, periodically, from equity stake sales in developed projects. The go-to-market is enterprise field sales: senior development professionals engage directly with sovereign, state-utility, and multilateral counterparties over multi-year origination cycles. The management team is anchored by veterans of predecessor Sithe Energies, Inc. (founded 1985), providing continuity of institutional knowledge in the IPP sector.

Name

Sithe Global Power

Legal name

Sithe Global Power, LLC

Website

https://sitheglobal.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

51–100 employees

Short description

Sithe Global Power, LLC is a New York-headquartered international power generation developer, approximately 99% owned by The Blackstone Group, that develops, constructs, acquires, and operates approximately 3,000 MW of hydroelectric, natural gas, and coal-fired generation projects in three continents under long-term PPAs with governments and state utilities.

Ownership category

akta.pro rank

Product category

Power Generation Infrastructure

NAICS

Electric Power Generation (22111), Hydroelectric Power Generation (221111), Fossil Fuel Electric Power Generation (221112)

SIC

Cogeneration Services & Small Power Producers (4991), Electric Services (4911)

akta.pro primary industry

Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro) (EUACALAJ)

akta.pro secondary industry

Utility-Scale Renewable O&M (Solar, Wind, Hydro, Geothermal) (EUAMAGAA)

Keywords

• Power generation development
• Electric generation facilities
• Hydroelectric power projects
• Public-private partnerships
• Infrastructure project finance

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D

Revenue model

1. Power Generation and Sale: Sithe Global develops, constructs, acquires and operates electric generation facilities, selling electricity under long-term power purchase agreements to offtakers and into wholesale electricity markets such as the Philippine Wholesale Electricity Spot Market and Ontario's competitive electricity market

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Sithe Global Power is an international development company that develops, constructs, acquires, and operates electric generation facilities in attractive markets worldwide. The company operates a portfolio of power generation projects totaling approximately 3,000 MW across three continents, diversified across hydro, natural gas, and coal fuel sources. Power is sold under long-term power purchase agreements to government offtakers, state-owned utilities, and into competitive wholesale electricity markets.

Product overview

Sithe Global Power operates as an international power generation development company engaged in the development, construction, acquisition, and operation of electric generation facilities. The company manages a portfolio of power generation projects totaling approximately 3,000 MW with nearly $5 billion in capital investment potential. The product portfolio consists of four primary power generation facilities across three continents: Goreway Station (875 MW natural gas combined cycle in Canada), Bujagali Hydroelectric Project (250 MW run-of-river hydro in Uganda), Mariveles Station (600+ MW coal-fired in the Philippines), and Dinginin Station (1,336 MW coal-fired under construction in the Philippines). Projects are diversified across fuel sources (hydro, gas, and coal) providing cost-effective electricity. The company focuses on large-scale, socially responsible power generation projects in challenging environments.

Differentiator

Problem solved

Functional benefit

Products and services

• Goreway Station An 875 MW (nominal net output) natural gas fueled combined cycle generating station located in Brampton, Ontario, Canada, utilizing General Electric's Frame 7FB combustion gas turbines in a 3x1 configuration with selective catalytic reduction to reduce nitrogen oxide emissions and air-cooled condensers reducing water consumption by 95%. Power is sold to the Ontario Power Authority under a long-term Accelerated Clean Energy Supply agreement.
• Bujagali Hydroelectric Project A 250 MW run-of-river hydroelectric facility located on the Nile River in Uganda, the largest privately financed hydroelectric plant in Sub-Saharan Africa and registered as the largest renewable Clean Development Mechanism project in Africa. Reutilizes water released from upstream hydroelectric facilities, eliminating the need for a storage reservoir. Nearly doubled Uganda's peak generation capacity, reduced carbon emissions by nearly 900,000 tons per year, and enabled the Government of Uganda to cut approximately $110 million per year in diesel generation subsidies.
• Mariveles Station A 600+ MW power station on the Bataan Peninsula, Luzon, Philippines, consisting of two identical 300+ MW power blocks using proven Pulverized Coal Combustion technology designed to meet the more restrictive of Philippine and World Bank emissions standards. Power is sold under long-term power purchase agreements and into the Philippine Wholesale Electricity Spot Market.
• Dinginin Station A 1,336 MW power station under construction on the Bataan Peninsula, Luzon, Philippines, consisting of two identical 668 MW power blocks using supercritical Pulverized Coal Combustion technology designed to meet the more restrictive of Philippine and World Bank emissions standards. Power is sold under long-term power purchase agreements and into the Philippine Wholesale Electricity Spot Market.

Quantifiable outcome

• Bujagali provides renewable power at two-thirds lower cost than the thermal generation it replaced
• +4 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core.

• Aboitiz CorporationcoreStrategic or Co-development Partner · 1 December 2016An affiliate of Aboitiz Corporation completed purchase of Sithe Global's interest in Dinginin Station in December 2016, acquiring the Philippine developer's stake in the 1,336 MW coal-fired power project.
• Chubu Electric Power CompanycoreStrategic or Co-development Partner · 1 September 2009Chubu Electric Power Company partnered with Sithe Global for Goreway Station and in March 2011 completed purchase of Sithe Global's interest in the project. The partnership combines Japanese power sector expertise with Sithe Global's development capabilities.
• Toyota Tsusho CorporationcoreStrategic or Co-development Partner · 1 September 2009Toyota Tsusho Corporation partnered with Sithe Global for Goreway Station and in March 2011 completed purchase of Sithe Global's interest. The partnership provides Japanese corporate investment and energy sector capabilities.
• Industrial Promotion Services (Kenya) / Aga KhancoreStrategic or Co-development PartnerIPS (Industrial Promotion Services, Kenya) partnered with Sithe Global on the Bujagali Hydroelectric Project as part of a Public-Private Partnership with the Government of Uganda. IPS is part of the Aga Khan Development Network.
• Ayala CorporationcoreStrategic or Co-development PartnerAffiliates of Ayala Corporation hold interests in Dinginin Station alongside Aboitiz Corporation and GNPower, representing major Philippine conglomerate involvement in the project.
• GNPowercoreStrategic or Co-development PartnerAffiliates of GNPower hold interests in Dinginin Station, partnering with Aboitiz Corporation and Ayala Corporation in the 1,336 MW Philippine power project.

Scale indicators4 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• ACWA Power: ACWA Power is a leading international developer, investor, and operator of power generation and desalinated water plants across the Middle East, Africa, and Asia. Its strategy of developing large multi-fuel projects under long-term PPAs with sovereign offtakers directly mirrors Sithe Global's enterprise model.
• Globeleq: Globeleq is a UK-based independent power producer focused on developing, building, and operating renewable and thermal generation across Africa and the Americas. It operates under a similar develop-and-own/long-term-PPA model with emerging-market governments, making it a directly comparable peer to Sithe Global's multi-fuel emerging-market IPP strategy.
• Quantum Power: Quantum Power is a pan-African power and infrastructure developer focused on hydropower and renewable energy projects. Its run-of-river hydro and IPP development focus in Sub-Saharan Africa directly parallels Sithe Global's Bujagali-style utility-scale hydro projects.
• Actis (Energy Infrastructure): Actis is a private-equity-backed investor in power generation and energy infrastructure across Africa, Asia, and Latin America. Its long-term ownership of utility-scale generation projects under PPAs with sovereign offtakers is closely comparable to Sithe Global's project pipeline and capital structure.

Broad incumbents

• Scatec ASA: Scatec is a Norwegian renewable IPP that develops, builds, owns, and operates solar, wind, and hydro plants in emerging markets under long-term PPAs. Its emerging-market renewable PPA model and project finance capabilities overlap directly with Sithe Global's Bujagali playbook.
• Brookfield Renewable Partners: Brookfield Renewable is one of the world's largest publicly listed renewable power platforms, operating utility-scale hydro, wind, solar, and storage assets globally. While larger and more diversified, it competes for similar long-duration PPA-backed renewable projects in the same geographies as Sithe Global.

Emerging players

• Aldea Global Services: Aldea Global Services focuses on renewable IPP development in Latin America with multi-fuel and hydro expertise. While smaller in scale, its project development model in emerging markets is comparable to Sithe Global's emerging-market focus.

Regional players

• Endeavor Energy (formerly APR Energy): Endeavor Energy is an IPP focused on fast-track and utility-scale power generation in emerging markets, often in challenging jurisdictions. Its strategy of building and operating generation under PPAs with governments overlaps with Sithe Global's project development approach in frontier markets.
• Cummins Cogeneration Kenya: Cummins Cogeneration operates thermal and cogeneration IPP assets in East Africa. While regionally focused and smaller in scale, it represents comparable independent power production under PPAs with East African utilities, similar to Sithe Global's Uganda operations.

Others

• Blackstone Energy Partners (Parent Portfolio): Blackstone Energy Partners is Sithe Global's parent platform and one of the largest PE investors in global power generation with over $8 billion of energy equity deployed. It is comparable as a peer through shared deal flow, capital, and sector overlap rather than direct competition.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/sithe-global-power-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sithe Global Power