|By JCN Newswire||
|March 4, 2014 11:31 PM EST||
The agreement allowed Mitsubishi Heavy Industries Ltd. to acquire a 50.1 percent interest in Kırklareligaz Enerji Uretim Sanayi ve Ticaret Anonim Sirketi which has been founded by Ata Kombine -Cevrim Santrali Elektrik Uretim Anonim Sirketi.
After signing the agreement, the parties announced that Kırklareligaz Enerji U-retim Sanayi ve Ticaret Anonim Sirketi would build a natural gas combined cycle power plant with an installed capacity of 520 MW in Turkey, Kırklareli province.
The power plant will be built by a consortium consisting of contractors Mitsubishi Hitachi Power Systems Ltd and Mitsubishi Hitachi Power Systems Europe Ltd. Construction is expected to be completed within approximately 30 months and the power plant is scheduled to be put into operation in 2016.
"We are pleased by this partnership that we have forged with Mitsubishi Heavy Industries Ltd. in the field of energy." said Omer Urundul, Vice Chairman of the Urundul Group. "Urundul Group will resolutely move toward its goal to become a leader in the field of generation of electric energy in Turkey thanks to this partnership in addition to its 30-year history and experience dedicated to the development of the Turkish economy and the energy industry." concluded his words.
Mr. Maekawa, Senior Executive Vice President of Mitsubishi Heavy Industries, Ltd. said that "The partnership with Urundul Group represents Mitsubishi Heavy Industries Ltd's fourth investment into an overseas power generation project. The three previous investment targets were the independent power producer (IPP) AES Energia Cartagena S.R.L. of Spain, Kaliakra Wind Power AD (KWP) of Bulgaria, and Pocheon Power Co., Ltd. of Korea." Mitsubishi Heavy Industries Ltd will be more deeply involved in the Kırklareli CCGT Power Plant than in its previous investment projects. Specifically, Mitsubishi Heavy Industries, Ltd. aims to collaborate with Ata Kombine Cevrim Santrali Elektrik Uretim Anonim Sirketi to ensure that construction is completed on schedule and that, once onstream, the joint venture including its business will be operated stably.
About Mitsubishi Heavy Industries
Since its foundation in 1884, Mitsubishi Heavy Industries (MHI) has sought pioneering new monodzukuri (manufacturing) techniques, building the foundations for the development of the entire industry. Today, with environmental and energy issues to the fore, MHI provides people around the world with eco-friendly products, and contributes to society through its involvement in global infrastructure projects and other business activities. For more information, please visit the MHI website at www.mhi.co.jp.
Source: Mitsubishi Heavy Industries
Mitsubishi Heavy Industries Hideo Ikuno [email protected] +81-3-6716-5277
Copyright 2014 JCN Newswire. All rights reserved. www.japancorp.net
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