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EDF Energies Nouvelles establishes a position in
Turkey by acquiring a 50% interest in Polat Enerji
Continuing its international expansion drive, EDF Energies Nouvelles
has acquired a 50% interest in the capital of Polat Enerji, one of the
principal developers in the Turkish wind energy market.
The shareholding acquired represents 50% of 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.
Commenting on the transaction, David Corchia, Chief Executive Officer of
EDF Energies Nouvelles said: “we are pleased to be moving into the
Turkish market alongside Adnan Polat, a very high-quality partner, with a
longstanding presence in Turkey. We share common goals in renewable
energies and the desire to go ahead with profitable projects carrying
controlled risks. Turkey represents a country with great potential in which
EDF EN will be able to harness the benefit of both its wind energy and solar
energy expertise.”
Adnan Polat, Chairman of Polat Enerji, added: “EDF Energies Nouvelles’
move into the Turkish market represents a key signal for our country, which
is booming and has major energy needs. We are proud to be associated
with one of the major players in the European renewable energy industry,
which combines the expertise and clout of a large group with
entrepreneurial spirit. Its know-how in several renewable energy sources
represents a valuable asset for the joint implementation of numerous projects.”
About EDF Energies Nouvelles
With operations in nine European countries and in the United States,
EDF Energies Nouvelles is a market leader in renewable energies. With a
development focused on wind energy for several years and more recently
on solar photovoltaic, now a second priority avenue of development, the
Group is also present in other segments of the renewable energies market:
small hydro, biomass, biofuel and biogas. In addition, the Group is
expanding its presence in the distributed renewable energies sector in
partnership with EDF.
EDF Energies Nouvelles is a 50 %-owned subsidiary of the EDF Group. Since
November 2006, EDF Energies Nouvelles is listed in Euronext Paris, code
"EEN", ISIN code: FR0010400143).
www.edf-energies-nouvelles.com |
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