U.S. developer Doheny Global Group announced it formed a strategic partnership with Stucky Ltd. of Switzerland to develop hydropower projects in Georgia totaling 100 MW.
Doheny signed a letter of intent in October with Georgia’s Ministry of Energy providing for Doheny’s development of about 100 MW of run-of-river hydropower in Georgia, consisting of four to six separate plants. (HNN 11/13/08) Doheny had said it plans to invest up to US$175 million to develop the projects.
Doheny said it would work with Stucky and the Ministry of Energy to develop the hydro plants throughout Georgia in a venture strongly supported by the Georgia and United States governments.
“We are very excited about this opportunity to bring additional green energy production to Georgia,� Doheny Managing Partner Jacob Rheuban said. �Not only will these run-of-the-river plants provide a low environmental impact source of power, but they will foster greater Georgian energy security.”
Brendan Quigley, Stucky’s director for International Branches, said the Swiss engineering firm is excited about the new partnership with Doheny.
�The synergy that will be created by combining the extensive knowledge, expertise, and abilities of our two companies will allow us to execute significant new projects and demonstrate our continued commitment to Georgia,� Quigley said. �We look forward to developing the greater sources of renewable energy that our world desperately needs.”
Georgia has won pledges of US$4.55 billion in international aid over the next three years to rebuild its economy and resettle refugees in the wake of a five-day war with Russia in August.