Friday 4 January 2013

Turkey signs power production deal with UAE

Turkey has signed an agreement with the United Arab Emirates (UAE) for the development of power plants and mines in southern Turkey.

The ‘Intergovernmental Agreement’ between Abu Dhabi based TAQA and Turkey’s state run power company EUAS includes the creation of a ‘project company’ which will develop plants with a combined power generation capacity of up to 7,000MW in the Afsin-Elbistan region.

Carl Sheldon, CEO of TAQA said: “As a full-scale energy company, TAQA offers Turkey a durable partner to develop this strategic project enhancing Turkey’s energy security. This agreement paves the way for TAQA to enter an emerging merchant market for power, demonstrating TAQA’s increasing maturity as a developer and operator of assets through the energy value chain.”

The agreement follows the signing of a joint declaration between the Emirate of Abu Dhabi and the Government of the Republic of Turkey in October last year. TAQA is believed to be one the largest independent power producers in the world and the majority owner of the facilities that provide 98% of the water and electricity requirements in Abu Dhabi.