Statkraft will gain a firm foothold in the fast-growing Turkish electricity market by building a 102 MW hydropower plant there, says the Norwegian firm.
The company has announced plans to build its second hydropower plant in Turkey just months after completing construction of its first – the 20 MW Cakit plant.
Statkraft says that the Kargi hydropower plant will generate around 467 GWh/year, enough to cover the electricity needs of around 150 000 Turkish homes. Energy demand in Turkey is growing faster than in any other European market and the country also has considerable hydropower potential.
“Constructing the Kargi hydropower plant is an exciting investment,” said Øistein Andresen, Executive Vice President in charge of International Hydropower in Statkraft. “It gives Statkraft a firm foothold in Turkey, a market with high economic growth, increasing energy needs and a major hydropower potential.
“Kargi is a profitable project which will provide Turkey and Europe with more clean energy. It will also create jobs and local development.”
Kargi is the second largest of five projects in the Turkish portfolio acquired by Statkraft in June 2009. Statkraft’s first power plant in Turkey, the 20 MW Cakit plant, commenced commercial operation in June 2010 and was officially opened by Turkey's Minister of Energy Taner Yildiz in October.
If all the projects in the portfolio are constructed, the plants will have a total installed capacity of around 550 MW and an average annual generation of approximately 1800 GWh.
Statkraft will invest €250 million in the construction of the Kargi plant.
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