Wednesday, February 24, 2010

Turkey's Anadolu Group in talks with tential energy partners

Asli Kandemir - 22.02.2010

Anadolu Group wants to boost installed power capacity to more than 2,000 megawatts and is talking to potential partners about energy activities, said Tuncay Ozilhan, chairman of the conglomerate.

Turkey's power consumption looks set to rise 4-6 percent this year, but the lack of major recent power infrastructure investment has given rise to worries that Turkey's electricity production capacity may not be enough to cover consumption.

Beer-to-energy group Anadolu plans to build a 1,200 megawatt coal-fired plant in northern Turkey and to invest $150 million in a 90 megawatt hydroelectric power plant in Georgia, which could begin operating in 2014.

The Turkish government wants to cut the state's role in energy, where it controls about 80 percent of generation and capacity, and has resumed privatisations of power grids.

Turkey's Privatisation Administration last week auctioned off four power grids for a total of $1.53 billion.

Analysts and government sources say the European Union candidate country needs to attract between $3-5 billion in investment annually for the next five years if it does not want to suffer from blackouts amidst higher consumption as the country's economic activity starts rising again this year.

Turkey's energy sector has drawn considerable foreign interest in recent years, with players such as Verbund and CEZ entering power production, but the global downturn has slowed investments. Last month Ozilhan said he expected total growth for Anadolu Group of 5-6 percent in 2010.

Source: Reuters,


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