GE signs MoU to develop YEKA wind project in Turkey
General Electric (GE), Borusan EnBW Enerji, Fina Enerji and Özgül Holding have signed memorandum of understanding to collaborate on the installation, operation and financing of a joint wind farm as part of the YEKA, the largest wind project in Turkey.
Contributing to the renewable energy portfolio of Turkey, the wind YEKA project will see preliminary preparations on financing and project by the companies.According to the terms of the agreement, companies will work together with the aim of supplying and operating wind sites, equipment, service, local manufacturing, finance and R&D.
General Electric MENAT onshore wind energy general manager Ruhan Temeltas said: “The YEKA Project, which will diversify Turkey's energy portfolio, is thus critical for Turkey to achieve its goals in renewable energy industry.
“At GE, we have been maintaining investments and collaborations in Turkey with 2,000 employees for the past seven decades, and together with all our teams, we are ready to tap into our knowledge and expertise of wind energy to contribute to our country's development and achievement of targets.
“We are supporting our country's energy targets through this agreement with our valuable partners."
The cooperation by GE, Borusan EnBW Enerji, Fina Energy and Özgül Holding provides a structure where each party complements one another in terms of the site, equipment and financing, whilst developing strong teamwork with deep knowledge and strong financials.
GE has provided wind energy equipment and solutions in 23 locations across Turkey, accounting for more than 1GW in installed wind energy power in Turkey.
Its installed capacity may reach up to 1.2GW with the projects under construction.
Fina Enerji, one of the partners of the consortium, has eight operating wind plants with a total capacity of 305MW.
The company continues to work on investments in four new wind plants and plans to put into use additional 200MW capacity within 24 months.
Borusan EnBW Enerji, another partner in the consortium, has seven wind energy power plants. The entire Borusan EnBW product portfolio is based on renewable energy sources, and out of the company's total installed energy power of 406MW, wind energy accounts for 349MW.
Özgül Holding has so far offered turnkey solutions for around 10 wind energy projects.