Japan’s Mitsubishi Heavy Industries and Turkish energy firm, Ata Elektrik, a subsidiary of the Istanbul-based Urundul Group, have signed a cooperation and strategic partnership agreement to jointly invest in Turkey’s booming energy market.
The Japanese side will take over a 50.1 percent stake in Kirklareligaz, an asset of Ata Elektrik, to form a JV and build a gas-fired power plant in the Thracian province of Kirklareli with an installed capacity of 520 megawatts (MW). Scheduled to be operational by 2016, the power plant will be built by a consortium consisting of the contractors Mitsubishi Hitachi Power Systems Ltd and Mitsubishi Hitachi Power Systems Europe Ltd.
The partnership with the Turkish company represents Mitsubishi Power Industries’ 4th investment in an overseas power generation project.
Mitsubishi Heavy Industries is also a part of the Japanese-French consortium that will build Turkey’s second nuclear power plant on the coast of Sinop, Black Sea.