Hydro Power Development Deal Formed Between Doheny Global Group and STUCKY Ltd

Doheny Global Group, a U.S. based international developer of energy facilities, together with STUCKY Ltd., a leading Switzerland based hydro power engineering and management firm established for over 80 years, announced yesterday the formation of a Strategic Partnership for the development of Hydro Power in Georgia.

Doheny will be working together with STUCKY Ltd. and the Ministry of Energy of Georgia to develop a minimum of 100 megawatts of run of the river hydro electricity plants throughout Georgia. Jacob Rheuban, Managing Partner of Doheny Global Group, commented that "We are very excited about this opportunity to bring additional green energy production to Georgia. 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."

This venture is supported strongly by both the Georgian and US governments. On October 26, 2008 United States Deputy Secretary of Commerce John Sullivan presided over the signing of the letter of intent between the Minister of Energy of Georgia, the Honorable Alexander Khetaguri and Irwin Katsof, Founding Partner of Doheny Global Group of the United States. This letter of intent provided for Doheny's development of approximately 100 megawatts of run of river hydroelectricity generation facilities in Georgia, consisting of approximately 4 to 6 separate power stations.

Brendan Quigley, member of the STUCKY Ltd. Board of Directors since 2006 and Director for International Branches said at the official signing that "We at STUCKY are very excited about our new partnership with Doheny Global Group. 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. We look forward to developing the greater sources of renewable energy that our world desperately needs."

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback