Invest News DetailMilliyet – The Norwegian renewable energy company Statkraft presses ahead with its investments in Turkey with the decision to build a hydro power plant, its third in the country, in the southeastern province of Siirt. Cetin Hydro Power Plant, which is to be built on one of tributaries of the river Tigris, will have an installed capacity of 401 MW and a large reservoir. A second plant is to be built downstream as a part of Cetin and will add 116 MW of installed capacity, thus increasing the total power to 517 MW, which is enough to power some 460,000 homes. The hydro power plant project will be Statkraft’s largest ever outside Norway. The investment cost of Cetin Hydro Power Plant is expected to reach EUR 500 million, increasing Statkraft’s investment total in Turkey to USD 1.2 billion, according to Statkraft Turkey’s Director General, Steinar Bjornbet. Statkraft’s earlier investments in Turkey, the 20-MW Cakit Hydro Power Plant in Adana, joined the grid in June 2010, while Kargi Hydro Power Plant, which is currently under construction in the province of Corum, will have 102 MW of installed capacity upon completion in 2015. Turkey’s energy market is one of the fastest growing in Europe, and it is expected to attract USD 20 billion of investments in renewable resources over the next 5 years.