RWE AG has signalled its entry into the Turkish market by signing a Memorandum of Understanding with a Turkish energy producer.The Group, Germanys largest energy producer, has partnered with a local company and intends to build power plants together in Turkey in the near future.

"The Turkish economy is dynamic and offers great growth opportunities," explained Juergen Grossmann, CEO of RWE AG, on site in Istanbul. The demand for energy and gas in the country is expected to increase by more than 5 percent per annum over the next few years and RWE’s expertise will help to shape the future. RWE will be represented in Turkey by its own local company headquartered in Istanbul, to be entered in the commercial registry in the coming days.

The Turkish Government plans to privatise a large proportion of the country's primarily state-owned energy and gas supply in the years ahead. RWE is currently looking into various partnership and investment projects that could follow on from the privatisation process.

Particularly relevant to the Turkish power generation industry is the lignite expertise of RWE Power, as lignite is an essential domestic energy source in Turkey. Additionally, Juergen Grossmann highlighted the enormous potential for renewables in this country. “Of interest here are especially hydroelectricity and wind power.” As another important element of its strategy in Turkey, RWE has applied for membership in the Nabucco Consortium. Should it be accepted, the Group looks forward in this regard as well to close and productive co-operation.