RWE Holding AS, RWE’s Turkish subsidiary company, and the Turkish company Turcas Elektrik Uretim, a subsidiary of Turcas Petrol, have signed a joint venture agreement for the construction of an 800MW combined cycle gas turbine (CCGT) power plant near the city of Denizli, Turkey.
RWE said that it will own 70% in the joint venture company, which already holds pre-license rights for the power plant. Initially, the main task of the joint venture company is to continue the project development work and further advance the project.
A final investment decision is expected by the end of 2009 and construction of the CCGT power plant could start in early 2010.
Erdal Aksoy, chairman of Turcas Petrol, said: “We are happy to team up with RWE as partner because RWE is a leader in the energy sector in Europe and has rich experience in the operation of gas-fired power plants.
“We appreciate the competence of our partner and look forward to working jointly on the remaining issues. We are optimistic that together with RWE, we can start the operation of the power station within the deadlines we have mutually set ourselves.”
