1/30/2014

French energy giant inks deal extending presence in Turkey

Hürriyet Daily News - French utility GDF Suez has signed a Memorandum of Understanding with the Turkish government for two major energy investments in the country.


The agreement covers Turkey’s second nuclear plant slated to be built in the Black Sea province of Sinop and a EUR 2 billion thermal power plant project in the southern province of Adana.


The deal was signed by the Chairman and CEO of GDF SUEZ, Gérard Mestrallet, and Turkey’s Minister of Energy, Taner Yıldız, marking an expansion of energy cooperation relations between the parties.


“We remain committed to investing in major energy projects in Turkey and supporting the Turkish government to ensure security of supply as the country’s demand for energy grows,” Mestrallet said during the ceremony which was also attended by the French and Turkish presidents, François Hollande and Abdullah Gül.


As part of the deal, the Turkish government and the French energy giant have reached a preliminary agreement for the establishment of a 1,320-megawatt (MW) thermal power plant in Adana.


GDF Suez is also a member of the consortium that will build a USD 22-billion nuclear plant in Turkey along with Japanese companies Mitsubishi Heavy Industries and Itochu Corporation.


The French firm says it has interests in approximately 1,250 MW of power generation capacity in Turkey through the Baymina and Unimar gas-fired power plants. The Group also owns Izgaz, the country’s third largest gas distribution company.

Turkey; energy sector; energy investments; sinop nuclear plant; gdf suez

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