Turkey, UAE Power Giants Team Up On $12B Energy Project

Law360, New York (January 3, 2013, 6:53 PM EST) -- State-owned energy companies of Turkey and the United Arab Emirates have signed an intergovernmental agreement to work together on a reported $12 billion power plant and coal mining project, Abu Dhabi National Energy Co. PJSC announced Thursday.

Per a memorandum of understanding, Abu Dhabi National Energy Co., also known as TAQA, and Turkey's Electricity Generation Co. Inc., which goes by EUAS, will form a joint venture and start exclusive talks on developing the proposed 7,000-megawatt project in the Afsin-Elbistan region of Turkey, the announcement said....
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