Azerbaijan, Baku, Feb. 17 / Trend /
RWE, the German power generator and distributor, plans to invest 900 million euros in Central and Eastern Europe including Turkey by 2013, Hürriyet Daily News reported according to Andreas Radmacher, chief executive of the company's Turkey unit.
The figure includes 500 million euros RWE is spending for its first investment in Denizli, Turkey to build a 775-megawatt gas-fired power plant with Istanbul-based Turcas Petrol, which is envisaged to come on stream at the end of 2012, Radmacher said at a news conference in Istanbul Wednesday.
RWE has 70 percent stake and Turcas 30 percent in the joint venture, he said.
"Turkey is not only a bridge between energy producing Caspian and consumers in Europe but also it itself is a growth market," Radmacher said. "We are open to other partnerships because our partnership with Turcas isn't exclusive," he said.
According to him, Essen, Germany-based RWE will also start an electricity sales business in Turkey "soon.
Plans to build an imported coal-fired power plant with Turcas at the site of Petkim Petrokimya Holding AS, Turkey's biggest petrochemicals manufacturer part owned by Turcas in western Izmir, is still under consideration, Radmacher said.