ISTANBUL - Turkey's Borusan Holding and Energie Baden-Wurttemberg AG (EnBW), the third biggest energy company in Germany, have become 50-percent partners in Turkish energy industry.
Within the framework of the partnership, Borusan and EnBW will first complete almost 1,000 megawatts of energy investment of Borusan.
Two companies aim to make 2,000 megawatts of investments, particularly on renewable energy resources.
"Turkey has a big renewable energy potential," EnBW CEO Hans Peter Villis told a press conference in the Turkish city of Istanbul.
Villis said that Turkey was actually using oil and natural gas in energy generation and was important almost 70 percent of its energy resources.
"Hydroelectricity is the second energy resource used the most in local production, following coal," Villis said.
Villis also said that Turkey also had big potential in biological energy resources, geothermal energy, wind and solar energy, but it was not making sufficient use of them.
The CEO said that his company wanted to make use of that potential together with Borusan.
"Improving renewable energy resources in Turkey will reduce its energy import invoice and create a real potential for economy," Villis said.
Villis said that his company aimed to become one of the significant electricity generators of Turkey together with Borusan.
With some six million customers and more than 20,000 employees, EnBW Energie Baden-Wurttemberg AG generated annual revenue in excess of 16 billion Euros in 2008. As the third largest energy company in Germany, it focuses on the segments of electricity and gas as well as energy and environmental services.
It mainly deals with electricity generation and distribution, natural gas drilling and distribution, and energy and environmental services.
The company also operates in the markets of central and eastern Europe.