Albioma finalizes on 14 February 2022 the acquisition of the geothermal power plant Turcas Kuyucak Jeotermal Elektrik Üretim A.Ş. (renamed Kuyucak Jeotermal Elektrik Uretim A.Ş.), in Turkey, by becoming its sole shareholder.
The acquisition of this plant confirms Albioma’s entry into the geothermal business, with high technical added value, complementary to its historical biomass and solar businesses.
The Group’s second geothermal power plant in Turkey
With more than 1600 MW of installed power, Turkey ranks fourth in the world for geothermal production and has strong development potential. Albioma has been established in Turkey since January 2021.
The Kuyucak power plant Jeotermal Elektrik Üretim A.Ş. (18 MW gross) was commissioned at the end of 2017 and is based on an operating license expiring in 2042 (with the possibility of extension for a period of 10 additional years). It produces electricity from 5 production wells for a net exported production at the end of 2021 of 83 GWh.
This new operation allows the Group to strengthen its presence on the geothermal market and to continue to improve its skills in this new business. We are gradually building up a platform of quality industrial assets.