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

General Electric Co.’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.

(Updates with plant locations in second paragraph, GE stake in third.)
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