Dünya – France-based Alstom has reached a preliminary agreement to acquire a 30 percent stake in Turkish energy company Deltom Jeotermal, a subsidiary of Delta Yatirim, according to a filing made to the Turkish Competition Authority.
The French conglomerate, which mainly operates in the transportation and energy sectors, intends to team up with Turkey’s Delta Group to develop geothermal sites and install power plants utilizing geothermal sources in the country.
Alstom is deeply involved in Turkey’s energy sector, having supplied equipment to a considerable portion of the country’s coal-fired and hydro power plants. The company employs a total of 1200 people in Turkey and has a facility in Gebze, Kocaeli that manufactures grid power transformers.
Its transportation unit, Alstom Transport Turkey, is also active in the country’s railway and subway projects and manages the company’s operations in the Middle Eastern and African markets from its Istanbul headquarters.
Turkey ranks 7th in the world and 1st in Europe when it comes to geothermal resources, according to data from the Mineral Research and Exploration Agency of Turkey (MTA). The country plans for 120,000 MW of installed capacity in 2023, double that of today’s 60,000 MW.