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Home  ›  Major & Selected Projects  ›  Power Plants  ›  Gebze, Adapazarı and İzmir Power Plants, Turkey  ›  Build, Own, Operate Scheme
Build, Own, Operate Scheme
In October 1997, following a competitive tender, the InterGen-Enka partnership won the right to develop, build, own and operate three natural gas fired combined cycle power plants in Gebze, Adapazarı and İzmir. The tender was solicited by TEAŞ, the state-owned company for electricity generation and transmission, and the Ministry of Energy and Natural Resources in accordance with the Build-Operate Law and the subsequent Build-Operate Regulation dated August 1, 1997.

Under an Electricity Sales Agreement, TEAŞ will purchase all the power generated by these three plants for a period of 16 years. The tariff, paid by TEAŞ, will vary over time and is inclusive of the fuel cost. Compared to other projects in Turkey, the tariff is very competitive, largely due to the challenging tendering process for the BOO program and the use of proven, advanced technology. BOTAŞ, the state-owned company supplying natural gas in Turkey, will deliver the required fuel for 16 years under the Natural Gas Sales Contract.

The entire financing of an approximately 2.0 billion USD investment was secured by the InterGen-ENKA partnership in the form of equity, provided by the partners and loans from US Exim, OPIC, Hermes, OND and commercial banks.

 

GEBZE

 ADAPAZARI IZMIR TOTAL

Installed Capacity MW (base-load)

1,554

 777 1,523 3,854

Annual Generation (billion kwh-net)
13.3 6.6 13.1 33.0

ENKA is the sole owner of the Gebze, Adapazarı and İzmir Natural Gas Fired Combined Cycle Plants since December 2005.

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