Power plant to meet 2.5 percent of dema

ISTANBUL - Anatolia News Agency

Gama Energy CEO Arif Özozan says the new power plant in Kırıkkale will come into operation by 2016. Company photo

Gama Energy, in which GE Energy Financial Services and Turkish Gama Holding are equal partners, is building a power plant in the Central Anatolian province of Kırıkkale, which is expected to meet 2.5 percent of the power needs of the country.

The company has guaranteed $600 million loans from five Turkish banks of the $900 million worth of investment, it announced in a written statement on Dec. 13. The 840 MW plant, which is planned to come into operation by 2016, is expected to generate 6,300 GWh power a year and provide more than 50 percent of power needs of the capital, Ankara.

“With the financing, a 58-km-long electricity transmission line and 13-km-long natural gas pipeline of the power plant will be built. The electricity generated in the power plant, in parallel with the Turkish developing market’s conditions, will be evaluated in the framework of short, medium and long-term planes in order to meet bilateral deals, final consumers and Turkey’s electricity system’s needs,” Gama Energy CEO Arif Özozan said. The financing package, provided by İş Bank, Garanti Bank, Yapı Kredi Bank, Denizbank and Industrial Development Bank of Turkey, was signed on Nov. 22.