Qatari/Japanese venture eyes Turkey power projects
Nebras Power inks MoU with Mitsubishi, Marubeni and Chubu Electric.
Nebras Power has signed a memorandum of understanding (MoU) with Japanese companies Mitsubishi Corporation, Marubeni and Chubu Electric Power to study the possibility of developing a huge power project in south east Turkey.
The project involves developing lignite mines in the Afsin Elbistan region, 600 kms southeast of the capital Ankara, and using the feedstock for a planned power project with a capacity of around 4,500 megawatts.
The Afsin-Elbistan region holds up to 45% of Turkey's reserves of lignite, or brown coal, and Turkish authorities have been keen to attract investment into the region to help meet growing electricity demand.
“The consortium is seeking to offer the latest types of technology available in this area and at competitive prices to reach an agreement with the Turkish government to implement the project,” a statement to the Qatari Stock Exchange said.
Nebras Power is an internationally focused infrastructure investment firm 60% owned by Qatar Electricity and Water Company (QEWC), with the remainder split between Qatar Petroleum and Qatar Holding.
Nebras and Mitsubishi are joint venture partners in the 52.5MW Shams 1 solar PV project in Jordan, having each purchased a 35% stake last year. Jordan’s Kawar Energy retained a 30% share of the project.
Mitsubishi is reportedly set to be named preferred bidder to construct the 2,400 megawatt Facility D gas power plant in Qatar, Project Finance International.