RES says the acquisition is a first important step for RES into this market, which has a “large untapped economic potential for wind power generation”.
The wind power projects are at different stages of development, and are due to be realised over a period of three to four years. The first generating licence is expected to be granted within the next few months.
The wind power projects represent a potential total investment of nearly €750 million.
Jean-Marc Armitano, CEO of RES Mediterranean, says: “We have been actively reviewing our expansion in the Mediterranean markets and have identified the Turkish market as one of the major growth areas for our business. Meeting the electricity growth in Turkey, combined with the need to reduce carbon emissions, will create a favourable environment to make use of its enormous wind and solar energy resources. This acquisition is a first major milestone in what we hope will be a long and successful enterprise in Turkey.”
The introduction of RES into the Turkish market has been supported by the Investment Support and Promotion Agency of Turkey (Invest in Turkey).