Japan's Enechange, Looop to invest $10 mln in solar plant in Turkey - report

Japanese energy companies Enechange and Looop have agreed to buy joint operation rights of a solar power plant in Turkey's province of Denizli for $10 million (9.27 million euro), local media reported.

This is the first investment to be carried out through a joint energy fund in which Japanese companies will invest $100 million over the next ten years, Anadolu Agency reported on Wednesday.

Turkey needs to decrease its dependency on imported energy as 70% of Turkey's needed energy is imported, the news agency quoted Turkish ambassador to Japan, Hasan Murat Mercan, as saying.

"Our target is to have a renewables share of 30% in our energy production by 2023. The targets of 20 thousand from wind, five thousand from solar, one thousand from geothermal and one thousand from bioenergy are not far-fetched targets for Turkey," Mercan said.

($ = 0.9275 euro)

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