U.S. developer Doheny Global Group said November 12 it plans to invest up to US$175 million to develop six hydroelectric projects in Georgia totaling 100 MW.
Speaking at a recent trade mission attended by U.S. government and business officials, Doheny Managing Director Irwin Katsof and Georgia Energy Minister Alexander Khetaguri announced the plan.
�Energy independence is an issue of critical importance to both Georgia and the United States,� Katsof said. �This agreement is truly a remarkable undertaking that melds the interests of the governments of the United States, Georgia, and private enterprise.�
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. (HNN 10/30/08)