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FINANCIAL NEWS
Abu Dhabi’s TAQA plans to invest in major power plant in Turkey
10 Oct 2012
(MENAFN) Abu Dhabi National Energy Company (TAQA) has unveiled a plan to invest in a major power project in southern Turkey in co-operation with Electricity Generation Co Inc., Arabian Business reported.
Turkish and Abu Dhabi government officials have signed a “joint declaration” in which they expressed their strong support for the project in the Elbistan region which will see the development of mines and new power plants.
Lignite, often referred to as brown coal, or Rosebud coal, is a soft brown fuel with characteristics that put it somewhere between coal and peat.
Turkey is rich with natural lignite and almost 40 percent of the reserves are concentrated in the Elbistan basin, so investing in this resource is a priority because it enables Turkey to cut its dependence on imported natural gas.
Lignite’s role in power generation is set to expand alongside rapid growth expected in electricity demand.
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