Renewable energy firm to expand into Turkey

23 Nov 2010
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Renewable energy firm to expand into Turkey

A leading European renewable energy company is to branch out into Turkey as part of ambitious expansion plans.

Wolfgang Ruttenstorfer, chief executive officer at Austrian renewable energy firm OMV, stated that the purchase of Petrol Ofisi - a Turkey-based fuel business - will help his organisation to grow into new markets.

He explained that he wants to turn Petrol Ofisi into a renewable energy company by bringing in all of OMV's Turkish operations under one firm.

"Integrated activities from upstream assets, supply and logistics, refining to marketing and trading and power generation are key advantages for OMV," he was quoted as saying by the Hurriyet Daily News.

But Mr Ruttenstorfer added that OMV has no intention at the present moment in time to start up new renewable energy developments in Turkey.

Earlier this month, renewable energy company Day4 Energy announced that it has penned a deal to provide solar panels to a new 1MW ground-mounted solar photovoltaic system in Italy. 

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