Turkey

Turkey’s electricity market interests us mainly because of its high growth rate, its proximity to our operations in Eastern Europe, and its urgent need for additional generating capacity. In mid-September 2007, we signed an agreement with Turcas, Turkey’s leading energy company, to form two joint-venture companies to develop, build, and operate two 800-megawatt power plants in Turkey. One of the plants will burn coal, the other natural gas. E.ON Türkiye, our Ankara-based subsidiary, has a 70-percent stake in each of the new companies.
