Kipas to invest USD 180 million in energy


Hurriyet - Kipas Holding, which operates in Kahramanmaras, will commission two energy projects in 2011, one geothermal and one hydroelectric, worth a total of USD 180 million.


The group is shifting its priority from textiles to the energy sector, according to Kipas Holding Board Chairman Hanefi Oksuz, and plans to grow by investing in two more power plant projects in addition to the existing two.


Oksuz said their preference was to invest in hydro and geothermal sources in addition to their natural gas and fuel-oil plants already generating electricity. “The hydroelectric power plant project in Ermenek will be completed in 2011”, said Oksuz, adding that the geothermal energy project in Aydin, Germencik is also expected to be operational by the first half of 2011.

energy; renewable energy; hydroelectric; geothermal; Aydin; Ermenek; Germencik; Kipas; Hanefi Oksuz