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Mon 29 Oct 2007 11:01 AM

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Yemen power project partners announced

Powered Corporation has named three key strategic alliances to assist in the development of energy projects in Yemen and the Gulf region.

Powered Corporation has named three key strategic alliances to assist in the development of energy projects in Yemen and the Gulf region.

The firm has appointed Longenecker & Associates and Lion Associates as key advisors in the implementation of its agreement with the Yemeni Government. Under this agreement, Powered will build power plants to generate electricity and desalination water using nuclear energy.

In addition, Powered Corporation appointed Andrews Kurth as legal counsel for the company. The firm has provided legal consultations for energy projects worldwide.

Longenecker & Associates is a consulting firm that provides specialised technical and management support to the nuclear and environmental industries. Lion Associates is an international consulting firm that has global experience in dealing with commercial and government policies and programs directed towards international marketing and trade, enterprise risk, defense procurement, foreign policy and security affairs.  

An expert licensed company will handle the project's nuclear fuels, the firm is expected to be chosen in the near future.

Powered Corp's role will be to build, own, and operate (BOO) electrical generation plants in association with investment groups and other organisations experienced with nuclear power generation.

The firm signed an agreement with the Yemen government on September 24 that stipulates the completion of a detailed feasibility study for the first site. Subsequent steps involve the securing of project financing and the negotiation and execution of a detailed project-specific agreement that is consistent with international standards. This process will be duplicated for each subsequent site during the agreement's ten-year term.

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