The aim of Turcas is to start generating electricity from geothermal by 2017, said CEO of company on Sunday.
Speaking to Anadolu Agency, Batu Aksoy, CEO of Turcas stated that the deal company carried out with Azerbaijani State Agency on Alternative and Renewable Energy Sources (SAARES) is a long term agreement to help starting renewable investments in Turkey and Azerbaijani.
Turcas and SAARES had announced on public disclosure platform on June, 21 that they signed a protocol that will boost solar, wind and geothermal investments in Turkey and Azerbaijani. The protocol will be valid for 3 years.
"Our strategy with Azeribaijani state agency is long term also our goal is to start production of electricity from geothermal by 2017" Aksoy underlined.
Aksoy said that the company wants to implement new projects that will contribute to the security of supply o in Turkey and continue to help attracting foreign direct investment in to the country.
"We had committed our shareholders that we will use our resources in projects which will provide high value and diversify our electricity generation portfolio. In line with that commitment, Turcas invested $65 million in a geothermal power plant in Aydin," Aksoy emphasized.
Aksoy added that during this first phase of our strategy, Aydin geothermal power plant project that planned an investment $65 million.
Turcas energy mainly active fuel distribution, energy investments, renewable energy projects, especially wind and geothermal energy projects, natural gas projects-one of Turkey's trade, which operates in the areas of integrated energy companies.
By Gokhan Yildiz