Gumuskoy Thermal Power Plant is the first thermal energy power plant developed and financed by the private sector in Turkey. It is located in Aegean region of Western Anatolia – the region of fig, olives and cotton growing, as well as of peaking tourism with the ancient city and thermal springs available.
First Turkish thermal power plant financed by the private sector
The project aimed at installing a geothermal power plant with two production units of 6,632 MW gross capacity each. This would allow generating 85 GWh of energy per year, equal to the needs of 38,000 households. The energy produced would also enable the reduction of CO2 emissions by 46,700 tonnes per year.
The company contacted MidSEFF for a €18.8 million loan, while the total investment amounted to €34 million.
The MidSEFF team performed the analysis of various aspects of the project, in particular, its environmental and social impact to make sure the beneficiary follows the best safety practices and the local community benefits from the project.
Geothermal resources, however, release the greenhouse gases due to their nature. To solve this matter, the company installed advanced technology which allows purifying the carbon dioxide and apply it at own nearby greenhouse, as well as sell for industrial purposes. This way the company contributes to local employment!
Gumuskoy TPP was also awarded The Best Outreach Project Award for capturing its CO2 emissions, using them in local greenhouses and selling them to industrial gas consumers.
This is one of the best examples of multiple benefits of a renewable energy project, including the decreased country's dependency on the imported fossil energy, as well as economic development of the region to preserve the unique nature and its clean environment.
14 Dec 2015