Sep 22 2010
Cogentrix Energy LLC, a Charlotte, N.C., headquartered electric power developing and operating company, has announced the commissioning of the entire three units at Yavuz hydroelectric power generating plant by Masat Enerji Elektrik Uretim ve Ticaret Limited Sirketi (“Masat”), a fully owned auxiliary company of Eti Elektrik a fully owned subsidiary company of Cogentrix.
The 23.4 MW run-of-river type Yavuz hydroelectric plant is built over the Yesilirmak River, located in the province of Amasya in Turkey. The government of Turkey consented for the commercial operation of the plant.
Masat, utilized the $80 million project financing it closed during June this year to complete the construction of the Yavuz project that is designed to produce 23.4 MW electric power. The company is also constructing another 33.4 MW run-of-river power generation project at Midilli. The construction of the Midilli project is anticipated to be completed and put to use by the fag end of the year 2011. Both the projects are fully owned by Masat licensedby the government of Turkey. The company received funding for the projects from Yapi Kredi Bankasi, A.S of Istanbul, Turkey.
Thomas Bonner, Cogentrix’s President, said that his company has made a significant commitment tohydroelectric power generation in Turkey and expressed his happiness on commissioning the Yavuz power station and authorization of its commercial operation. He added that his company is dedicated to the production of clean renewable energy in USA and in other nations such as Turkey.