|Adapazarı Power Plant||Gebze Power Plant||İzmir Power Plant|
|Installed Power (MW)||770||1,540||1,520|
|Contract Effective Date||October 1998||October 1998||October 1998|
|Start Dates||Construction||June 2000||March 2000||August 2000|
|Commercial Operation||October 2002||October 2002||March 2003|
|Average Sale Price (cent/kWh)||4.2||4.2||4.2|
ADAPAZARI, GEBZE and İZMİR Natural Gas Combined Cycle Power Plants
Adapazarı, Gebze and İzmir Power Plants were tendered by TEAŞ General Directorate and the Ministry of Energy and Natural Resources in accordance with the Build-Own-Operate Law no. 4283 and the Build-Own-Operate Regulation of 97/9853, dated August 1,1997 enacted under the said Law, and were contracted to and undertaken by the InterGen-ENKA joint venture.
Electrical energy to be produced under this project would be sold to TETAŞ over a tariff, which contains also the fuel costs agreed upon within the framework of the Energy Sales Agreement for a period of 20 years (including the project development and construction stages). Parallel to that, BOTAŞ, being a corporation holding the license of sale of natural gas in Turkey, is to supply the fuel requirements of the project in full, against payment, within the framework of a Natural Gas Sale Agreement valid for 20 years.
Total investment cost of 2.0 billion US Dollars of these power plants was fully borne by the InterGen-ENKA joint venture and thus, these projects did not bring any burden on the financial resources of Turkey.
Adapazarı, Gebze and İzmir Power Plants represent an exemplary energy investment with their environmental performances being even below the minimum criteria specified in the air quality protection, water pollution and noise control regulations. Positive approval certificates have been obtained for the Environmental Impact Assessment Report prepared in the format stipulated by the Environment Ministry and also for the Environmental Impact Assessment Report prepared according to the minimum criteria specified in the World Bank norms which is requested by the crediting institutions for these power plants that are financed with foreign capital contributions.