Blow to Turkey after UAE group pulls out of coal plant project

Abu Dhabi-based energy group Taqa has decided to postpone the development of a $12bn coal-fired power project in Turkey, leaving the Turkish government with a new headache over its energy import bill.

Taqa made an announcement on the subject this week stating it had acted to delay its investment until 2014 “due to other spending priorities” but Turkey’s energy minister Taner Yildiz is unhappy at what he sees as the company’s ‘political reasons’ for withdrawing.

Taner Yildiz
“It seems like the latest incidents in Egypt and Syria have put Taqa in a position to make choices about its energy investments from its perspective,” he said.

The government is keen to develop its energy diversification and erode its annual $55bn energy import bill, so the cancellation of the project, which involves building four new coal-fired power plants, and modernising an existing plant, is seen as a serious setback.

Turkey has regularly condemned the military coup that removed Egyptian president Mohamed Morsi from power in July, and recalled its ambassador from Cairo in August. Meanwhile the UAE has pledged finance for the country’s transitional government.

For more coal-fired power generation news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...