Baku, Azerbaijan, Nov. 5
By Maksim Tsurkov - Trend:
The SOCAR company will complete all tender procedures within the framework of construction project of the cogeneration unit (Petkojen) in Turkey by the end of 2015, Deputy Head of the SOCAR Department of Investments Zaur Gahramanov told reporters Nov. 5.
"Until the end of 2015, we expect to complete all tenders within the framework of this project and to begin construction of the facility in 2016," said Gahramanov. "Construction work will take about two years."
He said that commissioning of the unit will make it possible to not only provide Petkim oil and chemical complex and STAR refinery with electricity, but also to sell a part of electricity to the population of Izmir city.
"Petkojen is the first step of SOCAR in the electricity sector," said Gahramanov, adding that the issue of financing of this project still remains open.
"We are in talks with Turkish banks, the European Bank for Reconstruction and Development, the European Investment Bank," he said. "The Chinese side also shows interest in the project."
It was earlier reported that SOCAR Turkey Enerji intends to acquire a coal-fired thermal power plant with a capacity of 300 megawatts.
Socar Power has a 10-year project in Petkim with a capacity of 1500 MW. All necessary permissions were obtained for purchasing a 300-megawatt coal-fired power plant from the state. The negotiations are underway with the banks to ensure the tender process and to finance the project. The first phase of the cogeneration plant construction (Petkojen) will be completed in 2016. Thus, up to 30 percent of consumed energy will be saved up.
Petkim peninsula's need for the electric and steam energy will increase by four times by 2023.
---
Follow the author on Twitter: @MaksimTsurkov