US-based developer New Generation Power International has formed a joint venture to set up a 100-megawatt geothermal project in Turkey.
The company’s JV partners for US$400 million plant are Yilsan Holding, Mineks International and DCM Energy. The project will be built in the northwest region of Turkey, and will be constructed in three phases – The initial 10MW aims to be completed by the end of 2015, while an additional 40MW is intended to be operational by the end of 2016. The remaining 50MW is due to be operational by the end of 2017.
Turkey has a goal to source 30 percent of its power needs from renewable energy, including 1 gigawatt of geothermal power, by 2023.
“NGPI’s goal is to be a leader in global renewable energy generation, and Turkey is one of several countries of importance to us,” said Chirinjeev Kathuria, founder and chairman of NGPI. “There is huge potential to leverage Turkey’s natural resources to fuel the country’s growth and provide electricity to its people for the next 20 years.”