RWE & Turcas Power
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 Billion kWh hours of power annually. RWE & Turcas’ paid-in capital is 1.1 Billion TL and there is no financial indebtedness in its balance sheet. operation since 2013, the plant has created significant value with its high availability ratio of 93.1% on average 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. In addition, it continues to be one of the active power plants in the trading market by utilizing different channels through bilateral agreements and sales in day-ahead/intra-day markets. It also operates in ancillary services markets and is one of the main power plants supporting TEİAŞ’s frequency protection obligation. Significant changes were made to the market rules in 2022 due to restrictions on natural gas supply and huge increases in international commodity prices. The risks encountered in the energy market due to these changes were successfully managed. The Power Plant continued to meet Türkiye’s power demand with high efficiency during the year and played an important role in the country’s power supply security.
RWE & Turcas Doğal Gaz İthalat ve İhracat A.Ş., which was established as a wholly owned subsidiary of RWE & Turcas in 2012 to manage the Denizli Natural Gas-Fired Combined-Cycle Power Plant’s natural gas procurement operations, still carries out its operations under the Spot Import license that also covers wholesale natural gas transactions. Against the backdrop of developments in the gas market, RWE & Turcas Doğal Gaz İthalat ve İhracat A.Ş. has been ensuring the gas supply flexibility of Denizli Natural Gas-Fired Combined-Cycle Power Plant, covering a substantial portion of gas needs since 2018.