Sabah- A Norwegian energy company focusing on renewables has declared Turkey to be a primary investment location for hydro projects. Already having one operational and two under-construction hydro-power plant projects in the country, the company is seeking more investment opportunities in Turkey’s promising energy market, according to Oistein Andresen, Executive Vice President of International Hydropower in Statkraft.
“Turkey is a priority market for expansion and investment. Statkraft intends to invest more in the country and is closely following the privatization program of hydropower generation assets”, Andresen said, expressing their full confidence in the Turkish government. Having successfully completed the privatization of the state-owned power distribution network, Turkey plans hand over power generation to the private sector in the coming years.
The company is currently building the Cetin Hydro Power Plant project over the Botan River in Turkey’s southeastern province of Siirt. The 516-MW project, which consists of a large dam and two power plants, is scheduled to be completed by 2016.
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.
The Norwegian company’s investment total in Turkey’s fast-growing energy market will reach USD 1.2 billion with the conclusion of the existing projects. As part of its 2023 goals, the centenntial of the foundation of the Republic, Turkey aims to generate 30 percent of its installed capacity, set to reach 120,000 MW over the next decade, from renewable sources, including hydro, wind and solar.