Power plant may cost 800 mln euros

Bloomberg

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The plant at Tufanbeyli, near Adana, may cost as much as 800 million euros, said Selahattin Hakman, chairman of Enerjisa, a joint venture of Sabancı Group and Verbund. The company, whose current capacity is 455 megawatts, aims to generate 5,000 megawatts by 2015, he told reporters in Istanbul Thursday night. Sabancı, Turkey’s second-biggest industrial group, and Verbund, Austria’s biggest utility, formed Enerjisa in 2006 to invest in power production and distribution in Turkey, wheregrowing demand for electricity is creating the need for more generation capacity.

Enerjisa targets 600 million Turkish Liras of sales from its production unit this year, Hakman said. Production revenue will reach 6 billion liras after the firm achieves its 5,000-megawatt capacity goal for 2015.

The company gained about 3 million customers after winning a state auction last year for Ankara’s power network with a $1.23 billion bid. Enerjisa expects 2 billion liras of sales from the capital city’s grid this year, Hakman said.