Czech company Energo-Pro signed an agreement at the Ministry of Foreign Affairs to build a 99.5-MW hydro plant in Erzurum province in northeastern Turkey, according to Radio Praha.
Citing a press release from Energo-Pro, the story says the overall cost of the project is expected to reach US$240 million. The project will be financed in part by Turkish bank Akbank, Radio Praha says.
The company operates five hydro facilities in Turkey with total installed capacity of 95 MW and plans further acquisitions of power plants in the country, as well as greenfield investments.
CKD Blansko Engineering and Litostroj Power, owned by Energo-Pro, will construct the facility. It is expected to have annual generation of about 340 GWh and is anticipated to be operational in 2019.
The company also owns two small hydro plants in the Czech Republic with total capacity of 8.5 MW, 14 hydro plants in Bulgaria with a total of 166 MW, and 15 hydro plants in Georgia with a total of 475 MW.