EDF Energies Nouvelles (EEN.FR) said Monday that it acquired 50% of Turkey's Polat Enerji shares. This Turkish company owns two wind farms in service with 50 MW in total capacity, plus a 80 MW facility under construction, as well as four projects at advanced stages in their development, representing capacity in excess of 200 MW. All these assets are 50%-owned in partnership with another Turkish company.
In addition, within the framework of a call for tenders by the Turkish energy regulator (EMRA), Polat Enerji has submitted permit applications covering several hundred MW in wind energy.
In line with the alliances it has forged successfully in other countries, EDF Energies Nouvelles is teaming up with a well-known and experienced local partner, with first-class industrial connections and sound knowledge of the regulatory environment.
This transaction will enable EDF Energies Nouvelles to establish itself in the Turkish market. It is a perfect fit with EDF EN's strategy of expanding into burgeoning high-potential markets and into an environment offering healthy visibility and profitability.
With slightly less than 500 MW in installed capacity at year-end 2008, Turkey has wind energy resources estimated at close to 20,000 MW according to the Turkish energy ministry. The country has highly favourable natural conditions, both for wind energy, with wind resources among the best in Europe, and for solar energy, with insolation on a par with that in southern Spain.