Company News   Other Renewables

8/5/2016

Polat Enerji, Will Invest USD 1 Billion in Wind Energy

Polat Holding Board of Directors Chair Adnan Polat stated that they will be investing USD 1 billion in Wind Energy with their energy sector partners EDF and PSP Investments and added that "If the political will gives us the means, we will have completed USD 3.5 billion investment until 2023.”

Polat Holding Board of Directors Chair Adnan Polat issued a statement regarding their new projects planned for after the legislation changes to the energy bureaucracy are complete.

Stating that they have resolved to invest USD 1 billion starting in one month as Polat Enerji along with their partners EDF and PSP Investments, added that this investment to be made in Wind Energy Power Plants (WPP) shall be concluded in two years. Highlighting that Polat Enerji is the largest investor and producer in the sector with 650 MW installed capacity, Polat added:

"With Demirer Group and our partners, we have an approximately 1,100 MW installed power. This is over 20 percent of the sector. Our collaboration investments have reached USD 1.5 billion. As Polat Enerji, we have invested just over USD 1 billion. Ministry of Energy are making changes to the legislations – we are waiting to make another USD 1 billion investment from the moment these are complete and we are free to make such investments".

2 thousand MW more investments planned until 2023

Stating that there is the possibility of increasing domestic material and labour shares in power plants, Polat said that if this comes through, they have plans to make investments for 2 thousand MW more until 2023 and added that “The investment for this amount is approximately USD 2.5 billion. If the political will gives us the means, we will have completed USD 3.5 billion investment until 2023”.

Stating that Soma WPP would be the largest in Europe and 5^th largest in the world with only 371 MW more investment, Polat added that "Soma WPP will have 611 MW installed power with this addition from the existing 240 MW. At the moment, largest wind power plant in Europe is in Romania with 610 MW. An investment of USD 350 million, awaiting opening, and starting a new investment for USD 500 million, might help with the current morale of the Turkish nation. We will communicate this to our President. We hope he has time in his busy schedule. If he told us that he can spare some time in two day, we’d be able to lay the foundation with him present”.