08 December 2008

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.