Turcas Kuyucak Geothermal Power Plant

Aksoy, through its controlled subsidiary Turcas Petrol, completed all of the engineering, procurement, construction, and operational phases of the 18 MW Kuyucak Geothermal Power Plant in 2017.

Under the operation of Turcas, the power plant commenced its commercial operations in full capacity. In order to provide maximum benefit from the reservoir and increase production, in-well electrical submersible pumps were added into a total of 4 wells. Additionally, works for drilling a new production well and its connection to the plant were completed and added to production. Investments continued in order to maximize the production capacity of the existing wells and the power generation performance of the power plant. Afterwards, two production wells were converted into injection wells in order to better feed the reservoir, as well as to ensure maximum flow performance.

The power plant maintained power generation and sales activities within the scope of Renewable Energy Resources Support Mechanism during all years of operation. The plant generated 83 Million kWh electricity in 2021.

As disclosed in December 2021, a share purchase agreement (SPA) had been signed between Albioma, a French energy company listed in Euronext Paris, and Turcas with regards to the sale of %100 of Turcas’ shares in the power plant and transfer of all the shares to Albioma has been completed on February 14, 2022.