RWE & Turcas South Power Generation
Denizli Natural Gas-Fired Combined-Cycle Power Plant
In 2009, Turcas signed a partnership agreement with the German RWE AG Group – one of the world’s biggest energy companies - to invest in a large-scale power plant based on natural gas. This agreement established the joint venture company RWE & Turcas South Power Generation.
Denizli Natural Gas-Fired Combined-Cycle Power Plant, with 800 MW of installed capacity and a total investment cost of nearly EUR 600 million, started operations after obtaining approval from the Ministry of Energy and Natural Resources on June 22, 2013. RWE & Turcas operates the natural gas-fired combined-cycle power plant, which bears the capacity to generate about 6 terawatt hours of power annually. RWE & Turcas’ paid-in capital is TL 1,824,681,920. In operation since 2013, the plant has created significant value with its high availability ratio during this period. Boasting load ramp-up/ramp-down flexibility, the facility has fully met the load orders of the system operator TEİAŞ and provided support for network supply security.
RWE & Turcas Natural Gas Import and Export Company was established as a wholly-owned subsidiary of RWE & Turcas to manage the Denizli Natural Gas-Fired Combined-Cycle Power Plant’s natural gas procurement and sales operations. At the end of 2012, the company acquired its Spot LNG import license, which also covers natural gas wholesale transactions. Against the backdrop of developments in the natural gas market, RWE & Turcas Natural Gas Import and Export Company has been partially procuring Denizli Natural Gas-Fired Combined-Cycle Power Plant’s natural gas needs since 2018.
The company also capitalizes on the deregulated market environment and the resulting increase in volume and liquidity market-wide, to expand its presence in the OTC, day-ahead and balancing natural gas markets.