GE to Build $1.5 Billion Power Plants for Turkey’s MetCap

General Electric Co. (GE)’s energy unit will build two gas-fired power plants for 1.1 billion euros ($1.5 billion) for Turkey’s MetCap Energy Investments, Kerem Metin, chief executive of MetCap, said.

A 1,080-megawatts plant named Dervish will be constructed in Karaman in central Turkey to start operations in 2016 and a 878-megawatts plant, Eurostar, in Babaeski, to the west of Istanbul by 2014, Metin said in an interview in Istanbul today.

GE has a 10 percent stake in the Dervish plant which will use its turbines with FlexEfficiency technology, Metin said. GE- Gama, a joint-venture between GE and Turkish builder and energy group Gama will carry out the engineering work and construction, he added.

To contact the reporter on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

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