9/14/2012

Kuwaiti-South Korean partnership investing in Turkey’s solar potential

Milliyet - A Kuwaiti company in Turkey and a trio of South Korean companies have formed a partnership to invest in one of the most promising, but largely untapped renewable energy sources in Turkey: solar power. The partnership of As Yatırım, founded by Kuwaiti Aswar Group and South Korean companies; CX Concentrix Solar Korea, KEPCO and Kincoa, will build up a capacity of 150 MW using solar sources at a cost of USD 450 million.

“We plan to build a solar power plant in Turkey with a combined capacity of 150 MW over the next five years. A contract has been signed with the South Korean companies and solar radiation measurements will soon begin in 18 different locations. We will then apply for licensing for 20 locations,” As Yatırım CEO and partner, Ugur Akkus told the press.

“The majority of the project will be realized with loans from the Gulf banks. South Koreans will also supplement the financing needs,” he said, adding that the capacity of the project could reach 300 MW, depending on the conditions.
Turkey; renewable energy; turkey solar potential; turkey solar licenses; turkey photovoltaic potential; turkey pv projects; as yatırım; cx concentrix solar korea; kepco; kincoa

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