11/19/2013

GDF Suez eyes investments worth billions in Turkey

Star – The French utility company GDF Suez, part of the Japanese-led consortium to build Turkey’s second nuclear power plant in Sinop, is considering investments worth billions in Turkey’s energy sector, according to Turkey’s Minister of Energy, Taner Yildiz.


On a 2-day visit to Paris to chair the International Energy Agency (IEA) Ministerial Meeting, Yildiz said that his schedule included meetings with global energy companies about their investment plans in Turkey. “ We plan to hold meetings with companies with whom we currently cooperate. As a consortium member to build the Sinop Nuclear Power Plant, GDF Suez is one of them. The company could invest up to EUR 8 billion in Turkey”, Yildiz said in a statement. “Turkey foresees investments amounting to USD 120 billion in the energy sector over the next 10 years”, the Minister added.


The French company with operations in electricity generation, distribution and energy trading is known to be interested in setting up coal-fired power plants as well as the privatization of generation assets in Turkey.


Turkey’s Minister of Energy will also discuss energy cooperation with his Norwegian counterpart, focusing on renewable sources. “Turkey’s renewable energy supply could account for 25-26 percent of the total installed capacity, above many EU countries”, Yildiz said, highlighting Turkey’s potential in renewables.


As a consistently growing economy with an ever-increasing need for energy, Turkey aims to double its installed capacity from today’s 58,000 MW to 120,000 MW by 2023, the Centennial of the Republic.

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