Statkraft and Global Investment Holdings, a Turkish diversified holding company, signed an agreement to transfer hydropower projects to Statkraft in March 2009. Under the agreement Statkraft acquired Yesil Enerji, a company with controlling interests in seven hydropower projects in Turkey. The potential of the project portfolio is an annual generation capacity of more than 2 TWh. The agreement is Statkraft’s first in Turkey.
On November 11 Statkraft decided to construct the Kargi hydropower plant, located in the Corum province, northeast of the Turkish capital Ankara. The hydropower plant, which is planned to be completed at the end of 2013, will be Statkraft’s second plant in Turkey. With an installed capacity of 102 MW, Kargi will have an average annual generation of 467 GWh, enough to cover the electricity needs of about 150 000 Turkish homes. The investment is expected to amount to approximately EUR 250 million.
- Constructing the Kargi hydropower plant is an exciting investment. It gives Statkraft a firm foothold in Turkey, a market with high economic growth, increasing energy needs and a major hydropower potential. Kargi is a profitable project which will provide Turkey and Europe with more clean energy. It will also create jobs and local development, says Øistein Andresen, Executive Vice President in charge of International Hydropower in Statkraft.
Turkey is a hydropower growth market
The Turkish energy market is growing faster than any other market in Europe. Annually about 200 TWh electricity is consumed in Turkey, but it is expected that this will rise to approx. 400 TWh by 2020. Population growth and increased per capita consumption are the main drivers behind the increase. At present nearly 20 per cent of power generation is based on hydropower, and there is a great potential for developing more hydropower in Turkey.
More hydropower plants planned
Kargi is the second largest of five projects in the Turkish portfolio acquired by Statkraft in June 2009. Statkraft’s first power plant in Turkey, the 20 MW Cakit plant, commenced commercial operation in June 2010 and was officially opened by Turkey’s Minister of Energy Taner Yildiz in October. If all the projects are constructed, the plants will have a total installed capacity of around 550 MW and an average annual generation of approx. 1800 GWh.
The planned damsite for the 102 MW Kargi hydropower plant in Corum province, Turkey. Photo: Statkraft