Major German utility RWE plans to invest 900 million euros in central and eastern Europe, including Turkey, by 2013, according to Andreas Radmacher, chief executive of the company’s Turkey unit.
The figure includes Euros 500 million RWE is spending for its first investment in Denizli, Turkey to build a 775 MW gas-fired power plant with Istanbul-based Turcas Petrol, envisaged to come on stream at the end of 2012, Radmacher said. RWE has a 70 percent stake and Turcas a 30 percent in the joint venture.
“Turkey is not only a bridge between energy producing Caspian region producers and consumers in Europe but also is itself a growth market,” Radmacher said. “We are open to other partnerships because our partnership with Turcas isn’t exclusive,” he said.
RWE will also start an electricity sales business in Turkey soon, Radmacher said.
A second plan to build an (imported) coal-fired power plant with Turcas in western Izmir at the site of Petkim Petrokimya Holding AS, Turkey’s biggest petrochemicals manufacturer and part owned by Turcas, is still under consideration.
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