Taqa unveils big Turkish power project plans
Ankara, October 9, 2012
Abu Dhabi National Energy Company (Taqa) said it has completed a pre-feasibility study and prepared an investment model for a major power project in southern Turkey in co-operation with Electricity Generation Company.
The governments of Abu Dhabi and Turkey have signed a “joint declaration” expressing their strong support for the project and also discussed further investment and optimisation of an existing lignite power plant in the Afsin-Elbistan region; the development of mines; and the establishment of new power plants in the same region.
Negotiations towards an Intergovernmental Agreement related to the project are continuing in the hope of completing it before the end of 2012, the declaration states.
The declaration was signed on behalf of the two governments by Taner Yildiz, Turkey’s Minister for Energy and Natural Resources, and Hamad Al-Hurr Al-Suwaidi, the member of the Executive Council of Abu Dhabi and chairman of the department of finance of Abu Dhabi in the presence of Khaled Al Mu’alla, UAE Ambassador to Turkey.
Commenting on the project, Taqa CEO Carl Sheldon said Turkey was a new and exciting market for the company which fits well with its strategy to expand in the Mena and Europe.
"Turkey has great growth dynamics and is keen to attract foreign direct investment to develop its indigenous energy resources. As a full-scale energy company, Taqa is able to offer Turkey a durable partner to develop sizeable long-term energy projects of national importance," he added.
The development of Turkey's indigenous lignite resources is a priority because it enables the nation to reduce its dependence on imported natural gas.
Lignite’s role in power generation is set to expand alongside rapid growth expected in electricity demand. Approximately 40 per cent of Turkey's lignite is located in the Afsin-Elbistan basin.-TradeArabia News Service