E.ON, a power and gas company, and Turcas, a Turkish energy company, have agreed to jointly develop, construct and operate two 800MW power plants in Turkey.
According to the agreement, the partners will form two joint venture companies to execute these projects. 70% of each of these purpose companies shall be owned by E.ON’s Turkish subsidiary E.ON Elektrik Uretim, and 30% will be held by Turcas Elektrik Uretim.
Lutz Feldmann, member of the E.ON board and responsible for new markets, said: For E.ON these projects will be a major step into the Turkish energy market. With its strong growth rates and its urgent demand for additional generation capacity Turkey is one of the most attractive energy markets and offers good opportunities for experienced players like E.ON. Turcas is a strong partner. Today’s shareholders agreement is an important step towards a fruitful cooperation and demonstrates the seriousness to realize the intended power plant projects.