TAQA advances with Turkish power scheme
Cooperation deal signed for development of lignite power plant
Abu Dhabi National Energy Company (TAQA) has announced that is has completed a pre-feasibility study, and prepared an investment model, for a power project in Southern Turkey in cooperation with Electricity Generation Co (EUAS).
The governments of Abu Dhabi and Turkey have signed a ‘joint declaration’ expressing strong support for cooperation between the two companies, in relation to an investment in an existing lignite power plant in the Afin-Elbistan region of Turkey. The deal also extends to the development of mines, together with the establishment of new power sites in the same area.
HE Hamad Al-Hurr Al-Suwaidi, TAQA Chairman, said, “This joint declaration further strengthens the relationship between Turkey and Abu Dhabi, and has been a successful follow-up to the official visit made by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.”
TAQA CEO Carl Sheldon added, “Turkey is a new and exciting market for TAQA which fits well with our strategy to expand in the Middle East, North Africa and Europe. Turkey has great growth dynamics and is keen to attract foreign direct investment to develop its indigenous energy resources. As a full-scale energy company, TAQA is able to offer Turkey a durable partner to develop sizeable long-term energy projects of national importance.”
TAQA previously signed a MoU with EUAS in August, and has now completed the investment model and pre-feasibility study with support from teams at its Morocco and India coal and lignite plants.
Turkey is aiming to develop its lignite resources to reduce its dependence on imported natural gas. The use of the fuel is set to increase as the country’s power demand continues to surge.