We have received good news from BANDIRMA that a new 930 MWE GTCC type gas fired thermal power plant is now in operation at a present cost of 550 million Euros. The opening ceremony was held in the plant on 23rd October 2010 under the auspices of Prime Minister Recep Tayyip Erdogan.
Prime Minister opened Enerjisa Bandırma Natural Gas Combined Cycle Power Plant, the foundations of which had been laid two years ago by Enerjisa, which aims to become the leader of Turkey’s energy market. Turkey’s largest and most efficient natural gas power plant with an installed power of 930 MW and an annual generation capacity of more than 7,000 GWh, Enerjisa Bandırma Natural Gas Combined Cycle Power Plant will meet approximately 3.5 percent of Turkey’s demand for electric power. Enerjisa Bandırma Natural Gas Combined Cycle Power Plant, the foundations of which had been laid two years ago by Enerjisa, a joint-venture of Sabanci Holding and the Austrian energy giant Verbund, for the purpose of contributing to meeting Turkey’s demand for electric energy in the most efficient and most environmentally friendly manner was opened by the Prime Minister.
Noting that they wished to continue investing in Bandırma, Guler Sabancı announced that they were going to start building a second power plant as soon as they received permission for grid connection and a license. Sabancı added that the company also had plans to build a wind farm in the area. Completed in 26 months at an investment of 550 million Euros, the Enerjisa Bandırma Natural Gas Combined Cycle Power Plant aims to meet in the shortest time span Turkey’s demand for power that has been rising rapidly after the crisis.
The Enerjisa Bandırma Natural Gas Combined Cycle Power Plant has become Turkey’s most efficient natural gas power plant at an efficiency rating of 59%. With this high efficiency ratio, the Bandırma Power Plant will contribute to diminishing the threat of global warming by reducing carbon emissions by 50,000 tons per year. The power plant will meet approximately 3.5 percent of Turkey’s demand for electricity by generating more than 7 billion kilowatt-hours of electric power annually.
Mitsubishi Heavy Industries, Ltd. (MHI) has received order for M701F gas turbines for natural gas-fired power generation plant in year 2008. The 930 MW (megawatt) gas turbine combined-cycle (GTCC) power plant for a Turkish electricity provider for the domestic market, is slated to go on-stream in late 2010. It is now in commercial operation.
The Turkish GTCC power plant - the order for which MHI received on a full-turnkey basis jointly with A-TEC Power Plant Systems AG (A-TEC PPS), an Austrian engineering company specialized in GTCC power plants - built in Bandirma, ŞirinÇavuş village on the Marmara Sea coast.
The Bandirma power plant consists primarily of two gas turbines, a steam turbine and three generators. MHI supplied design and manufacture of the gas and steam turbines.
A-TEC PPS furnished peripheral equipment and performed civil work and installation. Mitsubishi Electric Corporation manufactured the generators.
A-TEC PPS is a subsidiary of A-TEC Industries AG, a Vienna-based industrial group with operations in drive systems, plant engineering, machine tools and metallurgy. MHI began collaboration with A-TEC PPS in the marketing of GTCC plants in 2006 in a quest to expand GTCC sales mainly in Central and Eastern Europe and Turkey.
The latest Turkish GTCC order is the outcome of the MHI/A-TEC PPS team's marketing activities. MHI established Mitsubishi Power Systems Europe, Ltd. (MPSE) in October 2007 as a base dedicated to power systems business in Europe. Collaboration with A-TEC PPS is one of MHI's proactive initiatives to enhance its locally tailored power systems marketing activities in the region.
We understand that the local company and Österreichische Elektrizitätswirtschafts-Aktiengesellschaft (Verbund) signed a 865 million Euro financing package for the first phase of the company’s investment program. This landmark transaction, which is expected to be increased to up to 1 bn Euro in the course of 2008, secures the generation of 12,000 gigawatt-hours of electricity per year, potentially supplying 3.6 million consumers. This financing package was successfully arranged by IFC, a member of the World Bank Group, local bank and WestLB AG, together the Global Coordinators.
The project will construct a portfolio of ten hydroelectric power plants and one natural gas-fired thermal plant in Bandirma with total capacity of 1,900 megawatts. There is no treasury guarantee for electricity sales. All generated electricity will be sold in the market. This is the largest international financing package for a private Turkish company which will sell into Turkey's deregulated power market. Given the current market conditions, this financing sends a strong signal of confidence in joint venture, to become a leading private power generator in Turkey’s liberalized electricity market.
We sincerely feel that our local private investors deserve all our support to complete those new power plant investments. We would like to congratulate them for completion of the first phase and we hope them all success in the second phase. They deserve since they risk their own portfolio in order to get proper "Corporate Financing" at reasonable interest rates, and payment terms. We will be too pleased to receive your comments. With deepest regards