VISIT OF THE GEBZE POWER PLANT - Tractebel Engineering
VISIT OF THE GEBZE POWER PLANT - Tractebel Engineering
VISIT OF THE GEBZE POWER PLANT - Tractebel Engineering
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<strong>VISIT</strong> <strong>OF</strong> <strong>THE</strong> <strong>GEBZE</strong> <strong>POWER</strong> <strong>PLANT</strong><br />
Oct17th, 2012<br />
UNIT & TRACTEBEL ENGINEERING<br />
Message from M. Unal AYSAL, Chairman of Unit 2<br />
Unit company profile 2<br />
Message from M. Georges CORNET, CEO of <strong>Tractebel</strong> <strong>Engineering</strong> 3<br />
<strong>Tractebel</strong> <strong>Engineering</strong> company profile 3<br />
Project Description 4<br />
Services provided by <strong>Tractebel</strong> <strong>Engineering</strong> 5<br />
Main technical characteristics of the Power Plant 5<br />
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Message from M. Unal AYSAL,<br />
Chairman of Unit<br />
In 1974, when I decided to establish UNIT, my dream was to build<br />
a vehicle to carry me and my team through the tunnel of time to<br />
reach not only the essence of the economic realities of the world,<br />
but also to enrich our cultural portfolio in communicating with<br />
various cultures without any geographical or political preference, while participating and contributing<br />
in their relentless efforts to reach higher standards for their people.<br />
Having set these objectives, UNIT has been active not only in calm waters of the world of developed<br />
countries, but also in strictly state controlled markets of the Communist era (prior to 1991), as well<br />
as<br />
on the moving sands of Middle East, with hard players such as Libya in 1970s, in Iran after the<br />
1979 revolution, in Anwar Esad’s Egypt, Turkey before and after the 1980 Coup d’ Etat, and also<br />
in far east with giants like China, Japan and South Korea. We have formed joint ventures, partnerships<br />
and gone from simple trading activities to the more complicated barter and swap deals to find the<br />
most convenient “sur mesure” formula to satisfy the needs of each specific market. In this voyage<br />
to the future, we have gone through, and experienced difficult times, crisis, bankrupt governments,<br />
wars, revolutions, and even some natural disasters as well as success.<br />
The years after 1990, UNIT was no longer only a Project Development Company, but also a credible<br />
investor group in the Energy Sector. For UNIT the basic principle was “The Continuous Change”.<br />
We have tried to keep our minds always young and open to the new opportunities, systems, methods<br />
and technologies, only to follow closely the changing realities of the world but also to comply with<br />
them in a timely manner. In this sense I believe UNIT is a very young company. Our primary and most<br />
important task is to keep it always fit and ready to sail with our partners on win- win basis as we<br />
have been doing for the last three decades.<br />
Unal Aysal<br />
UNIT Chairman<br />
Unit company profile<br />
Unit International S.A (“Unit”) is established in 1974 in Belgium. Unit is active in power generation<br />
business as a major developer, investor and trader in Turkey, South Eastern Europe (SEE) and the<br />
Middle East.<br />
Unit is the founder and investor of the first independent power producer (structured as BOT) in<br />
Turkey, Uni-Mar 480 MW CCGT power plant is now in its 12nd year of successful operation. Unit’s<br />
power generation portfolio includes advanced level under-construction projects with a total installed<br />
capacity of around 2,000 MW comprising hydroelectric, 865 MW CCGT (to be completed by end<br />
2013) and renewable energy power plants which are planned to operate in the coming year.<br />
Besides the main field of activity, the company carried out EPC activities in the past resulting in<br />
completion of 4,000 MW of gas fired power plants. Lastly, energy trading special purpose vehicle,<br />
Unit Elektrik, is the pioneer electricity trader in Turkey that carries out its activities in highest business<br />
standards.<br />
Yeni Elektrik Üretim A.S is a Special Purpose Company created by UNIT for the purpose<br />
of the Yeni 850 MWe CCGT project.<br />
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tion.<br />
Message from M. Georges CORNET,<br />
CEO of <strong>Tractebel</strong> <strong>Engineering</strong><br />
<strong>Tractebel</strong> <strong>Engineering</strong> takes pride in participating to the Belgian<br />
Economic Mission led by H.R.H. Prince Philippe to the Republic<br />
of Turkey because of the enormous potential this mighty country<br />
holds for fruitful partnerships and long-term industrial coopera-<br />
Not only offers this country’s dynamic economic development vast opportunities for engineering and<br />
consulting firms like ours, it also plays a prominent role as a country connecting Asia and Europe<br />
which is highly appreciated by an international engineering company like <strong>Tractebel</strong> <strong>Engineering</strong>.<br />
Turkey has been a country in which <strong>Tractebel</strong> <strong>Engineering</strong> and the GDF SUEZ Group have vested<br />
interests since many decades: starting as early as 1911, our ancestors were involved in many<br />
coal-fired and hydropower generation and gas distribution projects starting with the electrification<br />
of the tramways linking Constantinople with Galat-Pera.<br />
Our presence in Turkey has been built on mutual respect for the expectations of the customers<br />
that we served and the recognition of our expertise in the field of energy engineering. Today’s visit<br />
to the construction site of <strong>GEBZE</strong> is an excellent opportunity to show you the contribution of our<br />
engineers to the development of another corner stone of Turkey’s economic tissue.<br />
We are also proud to announce that - in the presence of HRH Prince Philippe of Belgium - we will sign<br />
in Istanbul on October 16 th a new contract with AFKEN Holding for the construction of a combined<br />
cycle power plant.<br />
Georges Cornet<br />
CEO of <strong>Tractebel</strong> <strong>Engineering</strong><br />
<strong>Tractebel</strong> <strong>Engineering</strong> company profile<br />
<strong>Tractebel</strong> <strong>Engineering</strong> is a leading international engineering company, specialized in energy<br />
and smart sustainable infrastructure projects.<br />
It offers state-of-the-art engineering and consulting solutions to power generation (thermal,<br />
renewable, hydro, and nuclear), power transmission, gas, industry and infrastructure customers<br />
in the public and private sectors.<br />
Its engineering assignments and services cover the full life cycle of customers’ installations:<br />
feasibility studies, basic design, technical specifications, project management and commissioning.<br />
Its knowledge of the most advanced technologies, its multidisciplinary teams and its years<br />
of experience in facility operation are its main assets.<br />
Some 3300 staff, mainly composed of high-qualified engineers, form a considerable source<br />
of expertise in areas as varied as thermal power generation (gas fired, coal fired, cogeneration,<br />
repowering, desalination), renewable energy (biomass, wind, solar, geothermal), hydropower,<br />
transmission and distribution (power system consulting, T&D infrastructure, T&D operations),<br />
carbon capture and storage, gas exploration and production, LNG, gas treatment, transmission,<br />
storage and distribution.<br />
<strong>Tractebel</strong> <strong>Engineering</strong> has acquired an excellent reputation for its engineering and consultancy<br />
services in the power and gas sectors in Turkey thanks to the important number of projects realised<br />
in the country since more than 60 years.<br />
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While the presence of the Group in Turkey starts as early as 1911 (Silahtara a power plant –<br />
Santralistanbul), <strong>Tractebel</strong> <strong>Engineering</strong> has acted as Owner’s Engineer for the construction of the<br />
LNG terminal of Marmara-Ereglisi developed by BOTAS and for the construction of the Baymina<br />
gas-fired power plant developed by GDF SUEZ.<br />
More recently, several contracts have been established in the form of Owner’s Engineer missions<br />
for the construction of thermal power plants of Mersin for Akfen Energy (contract to be signed<br />
during the Belgian economic mission), of Sarkoy for Bilgin Energy and of Gebze for Unit. A similar<br />
contract for the hydro power plant of Artvin has been awarded. Moreover, various due diligences<br />
are conducted by <strong>Tractebel</strong> <strong>Engineering</strong> in Turkey for private investors in the energy sector. In the<br />
gas sector, <strong>Tractebel</strong> <strong>Engineering</strong> is currently studying the Trans-Turkey Pipeline (1,800 km) to bring<br />
natural gas from Iran to Europe.<br />
Project Description<br />
On July 13 2011, Unit Investment NV closed the financing of the Yeni Elektrik 865 MW gas-fired<br />
combined cycle power plant (Yeni Elektrik) in Kocaeli, Gebze located near Istanbul in Turkey. The<br />
project has been entirely developed by Unit International SA (Unit) based in Brussels. Yeni Elektrik<br />
CCGT project is of landmark significance in that it represents the successful conclusion of a limited<br />
recourse project financing of a gas-fired merchant plant, in a jurisdiction where the on-going<br />
liberalization of electricity and gas markets required forward thinking engagement and collaboration<br />
between sponsors and lenders.<br />
The project benefits from strong sponsor credentials, Unit Investment NV (a sister company of Unit)<br />
has an established presence in the Turkish Electricity Market, with more than 30 years experience<br />
and its joint venture partner Ansaldo Energia Spa (Ansaldo) is Italy’s leading contractors for manufacturing<br />
thermal power plant equipment and bringing a proven track record in the construction of power<br />
plants. Unit and Ansaldo are shareholders in Yeni Elektrik, with Unit Investment NV owning 60%<br />
and Ansaldo 40% of the shares.<br />
The EPC strength of the contractor and the robust contractual framework allowed the project to<br />
enter into a turn-key lump-sum, date certain contract minimizing the execution risks. This, combined<br />
the strength of the project sponsors enabled lenders to accept the limited recourse structure during<br />
the execution of the project. The developing Turkish economy and the obvious need for additional<br />
power supply capacity, when supported with a transparent and well-structured regulatory environment<br />
were the essential parameters to establish a limited recourse structure for the operation period.<br />
The project was financed exclusively in the Turkish bank market. Garanti Bankası, Bankası, Vakıflar<br />
Bankası and Yapı Kredi Bankası together provided 700 million USD term loan facility and 80 million USD<br />
letter of guarantee facility to Yeni Elektrik which has a total project cost estimated around 1 billion USD.<br />
Yeni Elektrik with its state of the art technology will benefit from high efficiency figures and flexibility,<br />
which are essential factors to be dispatched in a competitive electricity market. Yeni Elektrik<br />
is located in a region where the electricity growth is well above the average growth rate of Turkey<br />
and the location needs reliable power supply to feed the heavy industry established in that zone.<br />
In addition, with its high environmental standards Yeni Elektrik assures to be an environmentally<br />
friendly project with low emission values.<br />
Yeni Elektrik is an out standing example of collaboration between sponsors, contractors and lenders<br />
to create a valuable power plant in the Turkish Electricity Market.<br />
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Services provided by <strong>Tractebel</strong> <strong>Engineering</strong><br />
Yeni Elektrik has entrusted <strong>Tractebel</strong> <strong>Engineering</strong> to perform following activities:<br />
�� Consolidation of a bankable feasibility, aiming at providing the financial institutions with sufficient<br />
and reliable information regarding the development, organization and predicted economic results<br />
of the Yeni CCGT Project for financing purposes,<br />
�� Selection of an EPC Contractor,<br />
�� Owner’s <strong>Engineering</strong> activities during project implementation. The activities of TE involve design<br />
review, manufacturing workshop inspection and follow up of construction at site and commissioning<br />
and testing activities. Technical support for the selection of O&M Contractor is also part of this mission.<br />
Main technical characteristics of the Power Plant<br />
The Plant configuration consists of a 2+1 multi shaft configuration, arrangement of<br />
�� two gas turbines model AE94.3a4<br />
�� two heat recovery steam generator<br />
�� one steam turbine<br />
operating in combined cycle, with approximate total nominal net output of 825 MW and peak<br />
output at 865 MW.<br />
Each gas turbine and the steam turbine will drive a separate generator from which electricity will<br />
be exported via a transformer to the TEIAS grid at 380 kV. The power station is fed by natural gas<br />
coming from the BOTAS gas national network.<br />
The 865 MW CCPP has following main characteristics:<br />
�� mainly a merchant plant designed for heavy cycling;<br />
�� very environment friendly and one of the cleanest power plants of the category in Turkey. The environmental<br />
parameters shall be continuously monitored to ensure clean operation at all times;<br />
�� 57.9% net efficiency LHV, one of the highest rates of its category.<br />
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