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Turkey

Turkey

PNE Wind and Steag to form JV in Turkey

TURKEY: German companies PNE Wind and Steag have announced they will form a company to develop 700MW in Turkey.

PNE Wind will look to develop Turkish projects with up to a 700MW output
PNE Wind will look to develop Turkish projects with up to a 700MW output

The agreement will see both companies hold a 50% stake in the new joint venture.

Markus Lesser, PNE's COO, said, "The aim of this co-operation is to make a joint success of wind farm projects developed by PNE and Steag in Turkey."

Steag has some wind experience in Turkey all ready having developed wind projects for seven years. Chairman Joachim Rumstadt said, "Steag has been involved in the Turkish energy market for about 30 years and has also been active in its wind energy sector since 2007."

PNE recently sold two of its German wind projects in Schleswig-Holstein to a private equity firm.

Meanwhile Steag has been active in Romania where they recently received a EUR 49 million loan from the European Bank for Reconstruction and Development to for the 108MW Crucea North wind farm.

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