Ali Agaoglu, chairman of the Board of Agaoglu Group of Companies, said that they continue to increase their investments in different fields, and added that they lean towards the projects in order to extend the portfolio of Agaoglu Energy Group.

Mr Agaoglu said: “We have purchased 100% of Galata Wind from an Italy and Holland partnered international company. Turkey has become foreign-dependent in energy at a rate of 80-85%, and we are paying approximately 50 billion dollars every year for energy. Therefore as Agaoglu, we decided to make investment to renewable energy.”

Murat Onuk, chairman of Agaoglu Energy, said that these projects shall be put into practise in five years. Mr Onuk added that they are aiming to create a balanced portfolio by turning towards different types of production plants in energy, which has an important part for future designing of Agaoglu.

Mr Onuk said that they are aiming to start the construction of Sahres wind plant of 93MW powers in Bandirma in the first half of 2010, and added that the total investment will be $230bn.

The chairman further said that the other wind plant projects in Bandirma, Canakkale and Yalova are on the licence stages, and the hydro electric plants of 60MW power in Bingol are in their project stages.