Saudi ACWA Power aims to build 340 MW wind plant in Turkey

Demand in Turkey’s electricity market is growing 4-5 percent annually
Saudi ACWA Power aims to build 340 MW wind plant in Turkey
By Reuters
Thu 13 Oct 2016 12:53 PM

Saudi Arabia-based power and water project developer ACWA Power is aiming to build a 340 megawatt (MW) wind power plant in Turkey, the head of its Turkish has said, as Riyadh and Ankara seek to deepen their energy ties.

ACWA is a new entrant to the burgeoning Turkish electricity market, where demand is growing 4-5 percent annually. It is already building a 950 MW gas power plant near the capital Ankara, due to be operational in the second quarter next year.

Abid Hussain Malik, head of ACWA Power's Turkish unit, said in an interview late on Wednesday that the company wants to diversify into renewables in Turkey.

"(Provided) that the licence is awarded this year as we project, we want to invest in a 340 MW capacity wind power plant," he said.

Turkey regularly allocates renewable power investment licences but companies are usually awarded less than they ask for because investment demand outstrips government quotas.

In another sign of deepening ties, Saudi Aramco signed memoranda of understanding on Tuesday with 18 Turkish firms primarily in construction, power generation and related services, enabling them to bid for Aramco projects.

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.