June 25, 2008
Suez Energy and Mimag-Samko to Build Thermal Power Plant in Turkey
Suez Energy International and Turkish engineering firm Mimag-Samko have signed a memorandum of understanding to develop, build and operate a thermal power plant in Turkey with an installed capacity between 800MW and 1,300MW.
The plant will be fired by imported coal. A special purpose company has been incorporated to carry out the project. Suez Energy International owns 90% of the company, while Mimag-Samko owns 10%.
The partners have identified several locations for the plant, and are currently analyzing them. They intend to start applying for permits for the project in the next few months.
The project is scheduled to come into operation before the end of 2013 and will sell its output to local eligible customers and to the emerging spot market. According to Suez Energy, the project is expected to be amongst the cheapest and most efficient thermal generating units in Turkey. Total investment in the project is likely to be more than $1.5 billion.