Czech company Energo Pro to build hydro plant in Turkey
Czech power distributor Energo Pro is set to build a new hydro power plant with a dam in the Erzurum province in north eastern Turkey. The overall cost of the project is expected to reach 240 million US dollars, which is nearly 6 billion crowns. The agreement was signed on Friday at the Ministry of Foreign Affairs, the company stated in a press release, Radio Prague reports.
The facility will be constructed by Energo-Pro’s daughter companies, Czech supplier of hydroelectric technologies ČKD Blansko and Litostroj Power, a Slovenian manufacturer of water turbines.
The output of the new hydro plant in Erzurum province will be 99.5 megawatts and an expected annual production will be around 340 gigawatt-hours. The plant should be completed and launched into operation in 2019.
The project, which will be co-financed by Turkish bank Akbank, will also receive substantial incentives from the Turkish government such as guaranteed sale price of electricity for the next ten years.