AES creates energy joint venture with Turkish company
- December 1, 2010
Arlington-based AES Corp. and Turkey-based Koç Holding have formed a joint venture, AES-Entek, to develop and operate power generation projects.
AES and Koç Holding will have equal interests in Entek Elektik Uretim, which includes 300 megawatts of natural gas facilities.
AES-Entek will diversify into other energy sources, such as coal, hydroelectric and wind, through acquisitions and other opportunities presented by Turkey’s plan to privatize 15 gigawatts of power-generation assets.
AES is a global power company. Koç Holding is a major Turkish conglomerate, with holdings in the energy, consumer durables, automotive, finance, IT, telecommunications and tourism industries.