GE (NYSE: GE) unit GE Energy Financial Services is pursuing its global
growth, reinforcing the company’s ecomagination initiative and
increasing renewable energy in Turkey by completing the country’s newest
wind farm – the Karadağ Wind Power Plant – through GAMA Enerji A. Ş.,
the GE unit’s joint venture with GAMA Holding A.Ş. This project is the
joint venture’s second wind farm in Turkey.
Located in the city of İzmir in the Aegean region, the 10-megawatt wind
project began generating electricity on July 4, 2012. Four 2.5-megawatt
GE turbines, which just surpassed two gigawatts of installed capacity
worldwide, are in use at the site. GAMA Enerji’s other wind farm, the
22.5-megawatt Sares wind farm, uses nine 2.5-megawatt GE turbines and
began commercial operations in March 2011.
“Our partnership with GAMA reinforces our commitment to investing in and
building our presence in the global renewable energy market,” said
Andrew Marsden, managing director, Europe at GE Energy Financial
Services. “Additionally, we are proud to support our ecomagination
program by assisting Turkey’s efforts to diversify its energy sector.”
The joint venture supports two GE strategies: growth in Turkey and
renewable energy. Turkey is a strategic growth area for GE, which has
been investing in the country for more than 60 years. Meanwhile, GE
reports US $21 billion in ecomagination revenues for 2011 and US $105
billion in sales since the program’s launch in 2005. Ecomagination is
GE’s commitment to solving the world’s toughest environmental challenges
through its innovative products and services, including GE’s
With the approval of Turkey’s Ministry of Energy and Natural Resources,
the Karadağ wind farm commenced commercial operation, furthering
Turkey’s goal of generating 30 percent of its energy from renewables by
2023. GAMA Enerji estimates that Karadağ and Sares will generate enough
electricity to power 59,000 average Turkish homes and avoid 80,000 tons
of greenhouse gas emissions a year.
GE Energy maintains the Karadağ and Sares wind farms under a services
agreement, while GAMA Enerji operates them. With a diverse production
portfolio and numerous renewable energy investments, GAMA Enerji aims to
become an investor across the electricity generation spectrum and
increase its total capacity to 2.5-gigawatts.
With a history in Turkey since 1948, GE’s footprint in the country
includes significant partnerships in aviation, energy, lighting,
healthcare, transportation and research and development. With six
facilities and over 600 employees, GE today powers nearly 25 percent of
Turkey’s electricity needs and has provided engines for 60 percent of
the airplanes in the country and 20,000 GE Healthcare technologies,
which are used daily across various hospitals.
About GAMA Enerji A.Ş.
GAMA Enerji was formed with a platform of power and water infrastructure
assets that were completed by GAMA under a Build-Operate-Transfer model.
GAMA Enerji owns equity in projects which have total electricity
capacity of 1,620 MW, and water conveyance capacity of 242 million
m3/year. GAMA Enerji continues to develop and invest in power and water
infrastructure projects in Turkey and the surrounding region. For more
information, visit www.gama.com.tr/energy
About GAMA Holding
GAMA was established in Turkey in 1959 and has become a leading
international contractor with operations in 17 countries extending from
Ireland in the west to Russia’s Sakhalin Island in the east. GAMA
Holding Companies presently have contracts in 9 countries valued
approximately USD $4.6 billion. Besides serving as an EPC supplier of
power plants and a general contractor of industrial facilities, GAMA’s
core business includes energy investments, managed by its subsidary GAMA
Enerji A.Ş. For more information, please visit www.GAMA.com.tr
About GE Energy Financial Services
GE Energy Financial Services’ experts invest globally across the capital
spectrum in essential, long-lived, and capital-intensive energy assets
that meet the world’s energy needs. In addition to capital, GE Energy
Financial Services offers the best of GE’s technical know-how,
technology innovation, financial strength, and rigorous risk management.
Based in Stamford, Connecticut, the GE business unit helps its customers
and GE grow through new investments, strong partnerships, and
optimization of its approximately US $20 billion in assets. For more
information, visit www.geenergyfinancialservices.com.
GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. Building, powering,
moving and curing the world. Not just imagining. Doing. GE works. For
more information, visit the company's website at www.ge.com.
GE Energy Financial Services pursues its global growth, reinforces GE’s
ecomagination initiative and increases renewable energy in Turkey by
completing the Karadağ Wind Power Plant through GAMA Enerji A. Ş. – the
GE unit’s joint venture with GAMA Holding A.Ş. – which uses GE’s
2.5-megawatt turbines, shown here.
Link to photo: http://www.geenergyfinancialservices.com/images/GEEFS_KaradagWind.jpg