Turkey:

Turcas Petrol AS to Invest in 16 MW Kuyucak Geothermal Power Plant (Bloomberg)

The planned geothermal plant is scheduled to come on stream in 2017.

Turcas Petrol AS, an Istanbul-based integrated energy holding company, plans to invest in renewable energy to diversify its assets and take advantage of Turkish government incentives for clean power.

The company has earmarked $65 million for a 16 MW Kuyucak geothermal plant in the western province of Aydin with its Ankara-based partner BM Muhendislik, Chief Executive Officer Batu Aksoy said Wednesday.

The planned geothermal plant is scheduled to come on stream in 2017. Turkey guarantees to buy wind energy and hydropower at 7.3 cents a kilowatt-hour, geothermal electricity at 10.5 cents a kilowatt-hour and solar and biomass-fired power at 13.3 cents.

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