USTDA GRANT SUPPORTS GEOTHERMAL PROJECT IN TURKEY

ANKARA, TURKEY (September 16, 2004) – Earlier today, the U.S. Trade and Development Agency (USTDA) awarded a $259,621 grant to Gurmat to fund a feasibility study on developing a power plant at the Germencik geothermal site in Turkey.  The grant was conferred at a signing ceremony at the Sheraton Hotel in Ankara.  U.S. Ambassador to Turkey Eric Edelman and Gurmat General Manager Ali Karaduman signed the grant agreement on behalf of the U.S. Government and the Gurmat, respectively.

The Germencik geothermal field is located about 50 kilometers from the Aegean Sea in the western part of Turkey.  Since the early 1960s, public and private entities have conducted various tests and studies on the potential of power generation using geothermal resources in the Germencik area.  The studies have shown that the region is suitable for power generation, but the site has yet to be developed commercially.  Earlier this year, Guris, a major Turkish conglomerate that owns Gurmat, was awarded a license to begin testing and electricity production at the Germencik site.

The USTDA-funded study will review the reports and data available for the Germencik reservoir and study the feasibility of constructing a 25 MW plant.  The electric generating capacity of the Germencik geothermal reservoir is estimated to be approximately 120 MW.   The proposed 25 MW power plant would replace the use of approximately 170,000 tons of oil annually.  Stone and Webster International, Inc., a division of The Shaw Group, will carry out the study on behalf of Gurmat.

The U.S. Trade and Development Agency advances economic development and U.S. commercial interests in developing and middle-income countries.  The agency funds various forms of technical assistance, feasibility studies, training, orientation visits and business workshops that support the development of a modern infrastructure and a fair and open trading environment.  USTDA’s strategic use of foreign assistance funds to support sound investment policy and decision-making in host countries creates an enabling environment for trade, investment and sustainable economic development.  In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from U.S. exports of goods and services.

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