Turkish-German joint venture for 2 GW

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EnBW, Germany's third-largest energy supplier, recently signed a memorandum of understanding with Turkish conglomerate Borusan Holding to form a strategic partnership to develop and build around 2 GW of mostly renewables generation capacity over the next 12 years. Under the agreement, EnBW will take a 50% stake in the conglomerate's energy unit, Borusan Enerji, by the end of this month. The two companies plan to invest EUR 1 billion over the next three-to-four years building wind and hydro plant totalling 1 GW. Borusan Enerji already owns a renewables project portfolio of 912 MW.

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