Turkey’s Aksa Elektrik Will Sell Electricity to Syria

(Corrects name of company in headline and first paragraph.)

Aksa Elektrik Toptan Satis AS, a Turkish trader of electricity, will sign a contract within a week to sell up to 500 megawatts of electricity a year to neighboring Syria, the company’s business development manager said today.

“All documents have been signed after we agreed on all terms and conditions of the deal,” Mutlu Sevimli said in an interview at a conference in Damascus. The sale would involve about one fourth of Aksa’s 2,000 megawatts of annual production, he said.

“We are also very much interested in investing in power production and distribution in Syria,” Sevimli said. “We have submitted tender documents for power projects in Syria in both wind and natural gas power generation plants.” Aksa Elektrik is owned by Turkey’s Kazanci Holding AS.

Turkey has exported electricity to Syria since 2006. The Arab country paid 93.8 million euros ($131.4 million) for Turkish electricity over the last two years combined, Syrian Deputy Electricity Minister Hisham Mashfej said at the same industry conference.

Officials from the two nations signed an agreement today to expand their cooperation in the power industry.

Syria plans to spend 350 billion Syrian pounds ($7.5 billion) on power projects and will focus on renewable energy, the official SANA news agency reported in December, citing Electricity Minister Ahmad Kayali. The envisaged projects include solar and wind plant, the minister said, according to SANA.

To contact the reporters on this story: Lina Ibrahim in Dubai at librahim4@bloomberg.net

To contact the editor responsible for this story: Riad Hamade at rhamade@bloomberg.net

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