1/19/2017
Investment Objectives of the Saudi Arabian Company ACWA in Turkey
Paddy Padmanathan, the Chairman of the Saudi Arabia-based company ACWA Power, said that they prepared for the tender for the solar power plant project in Konya, Karapınar, which would be one of the world's largest solar power plants. Padmanathan said: "We are waiting for a license for a capacity of 350 to 400 MW in wind power, and we are at the process of using the opportunity for an investment of 50 to 200 MW in geothermal energy."
Paddy Padmanathan, the Chairman and Chief Executive Officer (CEO) of Saudi Arabia-based ACWA Power, commented on the investment plans of his company. Pointing out that the construction of the 950 MW combined-cycle natural gas power plant in Kırıkkale was about to complete and that the said power plant would be commissioned in the first half of 2017, Padmanathan stated that their future investments in Turkey would be in the field of solar, wind, and geothermal power TEBA:1697/ January 19, 2015. Noting that they aimed to generate a capacity out of various resources in Turkey, Padmanathan said that they worked meticulously on the 1,000 MW solar power plant project (Karapınar, Konya). Emphasizing that the condition in the said project is extremely important for Turkey, Padmanathan made the following statement: "Turkey is in the process of tendering a capacity of a thousand megawatts (in Karapınar, Konya). We aim to create a capacity out of various resources in Turkey. For that matter, we are working meticulously on this 1,000 MW solar power plant project. I think the domesticity requirement for this project is very important and appropriate. This will bring a higher economic value to the company." 40 to 50-year projects in energy industry Stating that they were waiting for a capacity of about 350 to 400 MW for wind power, Padmanathan also said: "There was a postponement with this licensing process but it does not matter. Once we obtain and complete these licenses, we will continue to enlarge our wind power capacity. We are at the process of using the opportunity for an investment of 50 to 200 MW in geothermal energy". Noting that 40 to 50-year projects were conducted in the field of energy and that the investments were made accordingly, Padmanathan pointed out that the share of renewable resources in the total energy portfolio would continuously increase. As can be remembered, we reported that the contest announced in the Official Gazette dated October 20, 2016 for allocation of the Consideration of Domestic Power Generation for Karapınar Renewable Energy Resources Field (YEKA) had been postponed to 14:00 hours on February 21, 2017, and that the application deadline for the tender, under which the opening of financial bids and commencement of underbidding in accordance with the Regulation had been determined to be February 14, 2017 TEBA:1794/ December 12, 2016. On November 9, 2016, we reported in our last news on the YEKA tender for Karapınar that 28 companies had participated the meeting made in the Ministry of Energy, and that the companies had been of the opinion that the bidding deadline was too close and the preparation period too short TEBA:1790/ November 18, 2016.
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