Abu Dhabi National Energy Company (Taqa) has completed a pre-feasibility study and prepared an investment model for a major power project in the Afsin-Elbistan region of southern Turkey in co-operation with Electricity Generation Co. Inc (EUAS).
The Government of the Republic of Turkey and the Government of the Emirate of Abu Dhabi today signed a ‘joint declaration’ in which they expressed their strong support for the co-operation between EUAS and Taqa regarding investment in and optimisation of an existing lignite power plant in the Afsin-Elbistan region; the development of mines; and the establishment of new power plants in the same region. Negotiations towards an Intergovernmental Agreement related to the project are continuing in the hope of completing it before the end of 2012, the declaration states.
The declaration was signed on behalf of the two governments by Hamad Al-Hurr Al-Suwaidi, Chairman of the Department of Finance of Abu Dhabi and Member of the Executive Council of the Emirate of Abu Dhabi and Taner Yildiz, Turkey’s Minister for Energy and Natural Resources, in the presence of Khaled Al Mu’alla, Ambassador of the UAE to the Republic of Turkey.
Al-Suwaidi said: “This joint declaration further strengthens the relationship between Turkey and Abu Dhabi, and has been a successful follow-up to the official visit made by General Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.” Al-Suwaidi is also Chairman of Taqa.
Carl Sheldon, CEO of Taqa, said: “Turkey is a new and exciting market for Taqa which fits well with our strategy to expand in the Middle East, North Africa and Europe. Turkey has great growth dynamics and is keen to attract foreign direct investment to develop its indigenous energy resources. As a full-scale energy company, Taqa is able to offer Turkey a durable partner to develop sizeable long-term energy projects of national importance.”
The joint declaration follows meetings held between Sheikh Mohammed Bin Zayed Al Nahyan and Deputy Supreme Commander of the UAE Armed Forces, President Abdullah Gul of Turkey, and Recep Tayyip Erdogan, Prime Minister of the Republic of Turkey in February 2012 and a subsequent agreement to explore energy investment opportunities in Turkey, announced in May 2012.
In accordance with the framework agreed by the two governments, Taqa signed a MoU with EUAS in August.