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News > Global environmental current affairs > German power company RWE will invest in thermal power plants in Türkiye

German power company RWE will invest in thermal power plants in Türkiye

2011-05-16

German power company RWE will invest €500 million in Denizli, Turkey, to build a thermal power plant. The project's partner is Turkish company Turcas Petrol. The plant is expected to be completed and operational by the end of 2012, with a generating capacity of 775 megawatts. RWE will hold a 70% stake in the joint venture, while Turcas will hold 30%. RWE is currently one of the top five electricity and gas companies in Europe, employing 70,000 people and serving 16 million electricity and 8 million gas customers. The company currently dominates the Western European electricity market, is the largest electricity supplier in Germany, the second largest in the Netherlands, and the third largest in the UK, and is gradually expanding its influence in Central and Eastern Europe. Furthermore, it has recently been actively developing the renewable energy market. Turcas Petrol is a leader in the Turkish market in oil transportation, refining, petrochemicals, natural gas import and transportation, and power generation. RWE stated that the main reason for choosing to invest in Turkey is that Turkey not only serves as a bridge between neighboring energy-producing countries and European consumers, but is also a rapidly growing energy market itself.
–Source: Bureau of Foreign Trade

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