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Chinese energy giant NARI group has inked a US$3bn investment deal with Turkey’s CS group to jointly enter into the Middle East and Turkish energy markets, starting with a solar power generation project
The agreement between NARI, a subsidiary of the Chinese State Grid company, and the Turkish CS group comprises several projects dealing in power generation, transmission and distribution fields.
As part of the agreement, CS Group has been appointed as the sole representative of NARI in the Turkish and Middle Eastern markets.
The first joint step of the two firms will be a US$200mn and 100MW licensed solar power plant investment and the sale of a smaller, 35MW plant.