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Turkey

Turkey

RES signs joint venture for 120MW Turkish project

TURKEY: RES-subsidiary RES Anatolia has announced a joint venture with Turkish industrial group STFA Investment Holdings for the development of the 120MW Evrencik wind farm in western Turkey.

RES said it had signed a 50:50 agreement with STFA with a view to completing the project next year. STFA specialises in the construction and chemical sectors.

Speaking about the deal, RES Anatolia country manager Ayhan Gok said: "This plant ranks in the top four of the 148 projects granted in recent wind tenders in terms of size. We are delighted to be partnering with STFA in this venture, which will be on a 50:50 basis. Our expertise in renewable energy, combined with STFA's construction experience and presence in the Turkish energy market, makes this a winning combination."

Turkey is expecting a sizeable increase in new wind capacity this year, although market observers are divided as to whether 2013 will be the year that the wind industry really takes off.

Turkish deputy energy minister Hasan Murat Mercan told the European Wind Energy Association annual conference last month that the country must spend some $10 billion annually through to 2023 to boost overall power capacity from 55GW to 110GW, with wind capacity targeted to rise nearly tenfold to 20GW.

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