Taqa defers $12bn Turkey power project
Potential project to boost power output to 7GW
Abu Dhabi National Energy Co (Taqa) said it is deferring to next year an investment decision on a proposed power plant project in Turkey.
Taqa is delaying a decision on whether to proceed because of other spending priorities, a company spokesman said.
The agreement to study plans for developing coal mines and power plants is part of an intergovernmental accord signed in January between the UAE and Turkey. The countries and Taqa signed a memorandum of understanding for the project in southern Turkey's Afsin-Elbistan region.
Taner Yildiz, Turkey's Energy Minister, said in December that investment in the project to boost power output to 7GW may total US $12bn.
Taqa is pleased with the progress of talks on the project as part of UAE-Turkish government cooperation, the company's spokesman added.
In January, Taqa said the UAE utility and Turkey's Electricity Generation Co will work together on a plan to buy and modernise an existing 1.4GW coal-fired facility, and starting work on another and on the mines.