Town Electrification Investment Program - Tranche 1

Properly defining technical parameters ensures successful project implementation. The
required equipment for end terminals, estimated to cost $0.5 million, was omitted from the pertinent
package; thus the $29.1 million investment was idle. The target annual power generation of 60
gigawatt-hours was an overestimate as it required securing agreements for purchasing 40% of the output
of the private sector’s biomass power projects and an optimistic utilization factor of 70% of the run-of-river HPPs.