MB Holding Chairman of the Board of Directors, Muharrem Balat, who is the first private investor in geothermal electricity production, told the reporters of the Economist Magazine about geothermal.

MB Holding, which has investments in construction, energy, medical textile, construction, tourism and construction materials sectors, has so far invested 400 million dollars in Aydın, which it has chosen as the center for geothermal electricity generation. It plans to further expand these investments in the next two years. MB Holding, which started greenhouse cultivation by benefiting from geothermal investments in the region, is also preparing for a thermal hotel investment.

Balat is a businessman originally from Gaziantep. It is also on the list of taxpayers of the city. The reason for investing in Aydın goes back 16 years. Stating that he came across geothermal fields found as a result of the studies carried out by MTA, Balat notes that after the liberalization process in the energy market in 2006, he received the necessary permissions for investment. Thus, Turkey’s first private geothermal power plant, indicating that the exchange rate Muharrem Balat, Menderes Geothermal Electricity Generation Company as follows Dore-4 conveys they started the geothermal power plant investments. Stating that they started the construction of 17 MWe in the first stage, Balat states that the new project is also located in the same region.

Expressing that they have realized 25% of the 400 Million Dollars investment they have made since 2006 by using equity and the rest by using credit facilities, Muharrem Balat states that they have a total installed power of 72 MWe. He says that the share of Energy, which has a 60% share in turnover, will increase even more in the coming period.

The founder of MB Holding, Muharrem Balat, who achieved a turnover of 150 million dollars with 5 companies within its structure, took his first step in the business life in 1968 with the Baltaş company. Balat has produced 30,000 houses for TOKI so far with its contracting works. & Nbsp; While the construction sector has been an important source of income for the company for a long time, the Energy sector has become the flagship in recent years. He says that the share of energy, which has a share of 60% in turnover, will increase even more in the coming period.

Muharrem Balat, who is also the President of the International Geothermal Energy Union, says that geothermal energy is a very important resource for Anatolia, but it has not been turned into an opportunity until today. Start Company as Turkey’s first private geothermal power plant that they undertake the important task of establishing, registering that they play a leading role in the development of geothermal energy in Turkey. Balat states that Menderes Geothermal Elektrik Üretim A.Ş. has set out with the aim of meeting the increasing demand for electrical energy with alternative, environmentally friendly and renewable resources.

Muharrem Balat says that after Dora-1, the first geothermal power plant in Aydın with 8.5 MWe power, they have reached 54 MWe production power, which has been fully invested and sold energy.
With the completion of the ongoing investments He also states that this figure will increase up to 400 MWe.

Muharrem Balat continues as follows; “By bringing geothermal energy, which is an environmentally friendly energy source, to the economy, we have reduced carbon dioxide emission compared to energy production from comparable carbon fuels, as well as contributing to the reduction of foreign exchange inputs spent for oil. To put it in numbers, 32,000 tons of carbon dioxide emission reduction is achieved in the first project, 45,000 tons in the Dora-2 project, and 110,000 tons in the Dora-3 project. With the Dora-4 project coming into operation, all of the electrical energy needed by the facilities in Aydın will be supplied from Dora facilities. “

Two-thirds of geothermal electricity generation currently being met from Turkey Aydin. The total installed capacity of geothermal power plants in Turkey has reached 334 MW. Muharrem Balat in Turkey in 2015 with the entry into operation of the new field-oriented investments this figure says it will be up to 400 MWe. Balat states that its target for 2023 is 1000 MWe.

On the other hand, MB Holding uses geothermal energy in agriculture. Tomatoes produced by the company in Sultan Sera, established in Aydın, are exported abroad. Muharrem Balat states that they sell half of the tomatoes produced here to the Netherlands. Balat also adds that their goal is to move Sultan Sera to a size of 160 m. The steam of existing geothermal investments will expand the greenhouse area Balat also states that new tourist facilities will be opened in the upcoming period in order to benefit from the steam released. The first project on this subject is currently being developed.

Expressing that the target audience of this project is European elderly tourists, MB Holding Chairman Muharrem Balat states that they are negotiating with a Spanish architecture company for the hotel, which will cost 20 million dollars. In addition to its geothermal presence, Balat says that Aydin is close to ancient cities with important cultural heritage and therefore will attract tourists. Balat also notes that the hotel they will build will be close to the Dora Geothermal Electricity Production Facilities.

MB Holding has taken the first step in this field in Gaziantep before the hotel it will build in Aydın. The hotel, whose construction started a year and a half ago in this province, will open in October. MB Holding Board Chairman Muharrem Balat says that the hotel, which was built with an investment of $ 18 million on Gazi Muhtar Paşa Boulevard in the center of Gaziantep, will be operated by Hilton. Balat says that the 107-room hotel will make a significant contribution to the tourism and economic life of the city.