April 28 (SeeNews) - US-based firm New Generation Power International (NGPI) said Tuesday it will install and operate a 100-MW geothermal power plant in northwestern Turkey together with three local companies.
The independent power producer is forming a joint venture for the project with Yilsan Holding, Mineks International and DCM Energy. The total investment in the geothermal plant is estimated at about USD 400 million (EUR 366m).
The partners aim to complete the first 10 MW of capacity by end-2015. Another 40 MW are planned to be up and running by the end of next year and the final 50 MW are expected to reach completion and start operation before the end of 2017.
NGPI is developing geothermal, wind and solar projects in several geographies. Its founder and chairman Chirinjeev Kathuria said that Turkey is one of a number of important markets for the company. The country aims to reach a 30% renewables share by 2023.