Invest News DetailReuters - Statkraft, one of Europe’s leading firms in the renewable energy industry, has decided to construct the Kargi hydropower plant in Corum, Central Anatolia. The hydropower plant, which is due to be completed at the end of 2013, will be the Norwegian company’s second plant in Turkey. With an installed capacity of 102 MW, Kargi will have an average annual power output of 467 GWh, enough to cover the electricity needs of about 150,000 Turkish homes. The investment is expected to cost approximately EUR 250 million. "Constructing the Kargi hydropower plant is an exciting investment. It gives Statkraft a firm foothold in Turkey, a market with high economic growth, increasing energy needs and major hydropower potential. Kargi is a profitable project, which will provide Turkey and Europe with more clean energy. It will also create jobs and local development," said Oistein Andresen, Executive Vice President in charge of International Hydropower at Statkraft. The Turkish energy market is growing faster than any other market in Europe. Annually about 200 TWh of electricity is consumed in Turkey, but it is expected that this will rise to approx. 400 TWh by 2020. Population growth and increased per capita consumption are the main drivers behind the increase. At present, nearly 20 percent of power generation is based on hydropower, and there is great potential for developing more hydropower in Turkey.