German EnBW to take 50 pct stake in Türkiye's Borusan Enerji

Reuters - German firm EnBW will take a 50 percent stake in the energy unit of Turkish conglomerate Borusan Holding, as EnBW and Borusan Holding sign a strategic partnership deal, Borusan said. The two companies announced in a joint statement that they were planning an initial power investment for 1,000 megawatts (MW), with a long-term goal to invest enough to produce 2,000 MW of energy, which would largely be made up of renewable resources. EnBW's Chief Executive Hans Peter Villis told German daily Financial Times Deutschland that the German utility and Borusan plan to jointly build wind parks and hydroelectric power plants in Türkiye with an initial capacity of 1,000 MW. The report said the two companies would invest EUR 1 billion (USD 1.27 billion) in the next three to four years.