Sun Group and Turboden sign LOI on development in Turkey
Cannakale, Turkey (source: flickr/ iriskh, creative commons)
Alexander Richter
10 Şub 2014
Turkish Sun Group and Italian Turboden sign letter of intent on the development of two geothermal projects in Turkey. The Canakkale and Manisa projects would have a combined capacity of 200 MW when built.
Past week, Turkish company Sun Group and Italian Turboden, owned by Mitsubishi Heavy Industries, have signed a letter of intent for the development of two geothermal sites in Canakkale and Manisa, in the Aegean province of Turkey.
The agreement was signed at a Turkey-Italy Economic Forum in Rome during the recent visit of the Turkish President Abdullah Gul to Italy. The contract involves the planning, investment and technology transfer for the construction of two 100 MW geothermal power plants in Turkey at a total cost of EUR 300 million ($405 million).
“Turkey is among the leading countries in the world in terms of geothermal potential; however, the utilization of geothermal resources to generate electricity is just beginning to take off. Incentives provided by our government in this regard are instrumental in harnessing this renewable and domestic energy source..”, said a statement from the Sun Group about the deal. Sun Group company Yeni Basak Enerji holds three geothermal drilling licenses in Canakkale and one in Manisa.
Turkey ranks 7th in the world and 1st in Europe when it comes to geothermal resources, according to data by Mineral Research and Exploration Agency of Turkey (MTA). The country’s installed capacity using geothermal resources reached 250 MWs as of September, 2013. The theoretical power generation potential is estimated to be 31,500 MWs.”
Source: Balkans Business News
