9/21/2012

UK firm pours EUR 75 million into Turkey wind plant, more underway

Today’s Zaman - UK-based RES Energy is set to construct a 48 megawatts (MW) wind energy plant in the Black Sea province of Samsun, part of a company goal to increase its wind capacity inside Turkey by between 50 and 100 MW per annum.

Construction for the planned plant in Samsun's Havza is to begin by mid-2014 and is expected to be finished in 2016. The EUR 75 million Havza plant is the company's first investment in the Black Sea region, representing an interest in diversifying investments across the renewable energy-rich Anatolia. The RES Havza wind plant will produce 126 gigawatts (GW) of electricity per year, capable of meeting the electricity power needs of 69,000 households. RES will provide 15-20 percent of the plant financing from company coffer, while the rest will be financed through long-term loans. The company has already initiated contacts with local banks for loans.

Accompanied by local and foreign company officials, RES CEO Jean-Marc Armitano met with reporters in Istanbul on Wednesday to share the details of his company's plans for Turkey. Celebrating their 30th anniversary this year, RES has been active in Turkey since 2009. Currently, the company holds licenses to produce 170 MW from wind energy in Turkey.
turkey; energy sector; energy investments; turkey renewable energy; wind energy turkey; res group; turkey wind power; res wind

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