Posted on 15 April 2011
The ground-breaking ceremony for a €500 million natural gas burning power plant has just been held. The 775 MW plant, which is being constructed by the German power supplier RWE and Turkeys Turcas, is being built in the Aegean province of Denizli and is expected to be operational by the end of next year.
In attendance at the ceremony, energy Minister Taner Yildiz said that RWE had promised to invest €3 billion in Turkish energy.
Turkey sees massive growth potential in its energy sector as well as the opportunity to attract foreign investment. This latest power plant involved a big energy investment from Turcas, a company that is normally active in oil.
1 MW of power is enough electricity to supply up to 300 US households for a year, thus the new power plant will be able to meet 2% of Turkey’s energy requirements (3.5 million homes).
For their part, RWE sees Turkey as being a natural strategic partner due to the countries rapid growth. It has a 70% stake in the natural gas plant and plans to continue investing in renewable energy in the country.
Renewable energy is important for Turkey, but cannot supply all of its energy needs. High energy costs remain a problem within Turkey and could affect its competitiveness with the rest of the world. The current plans to build nuclear power plants are controversial due to the meltdown of Japan’s Fukushima plant.