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Taqa to sign $12bn development deal with Turkey
- United Arab Emirates: Thursday, December 27 - 2012 at 05:07
Turkish energy minister Taner Yıldız has announced Abu Dhabi National Energy Co (Taqa) is set to sign next Thursday a $12bn agreement with the Turkish government to develop existing coal power plants and establish new ones in the Afşin Elbistan basin, Today's Zaman has reported. The deal with Taqa follows the establishment of a joint committee to discuss energy investment opportunities in Turkey this summer. Located in the southern province of Kahramanmaraş, the Afşin Elbistan basin holds an estimated 4.4 billion tonnes of coal reserves, which account for 40% of Turkey's total coal reserves. Turkey wants to increase the share of coal in domestic energy production to 30% next year.
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