Maspo Enerji Sanayi ve Ticaret A.Ş., operating under Gürmen Group and focused on renewable energy investments, signed a memorandum of understanding with German energy giant Geothermal Group. The signing ceremony was attended by Geothermal Group CEO Horst Kreuter and Gürmen Group Chairman of the Board Remzi Gür.
Within the scope of the memorandum of understanding, the two groups will cooperate on a geothermal power plant project in Türkiye with a production capacity of 50 MW, as well as on renewable energy investment opportunities in Europe, Africa, and the Middle East. The first geothermal power plant project, valued at 50 million euros, is expected to begin production next year.
Commenting after the signing of the agreement, Gürmen Group Chairman of the Board Remzi Gür expressed his satisfaction with the memorandum of understanding, stating: “Working with a partner such as the German Geothermal Group in the field of renewable energy investments is an important step for both Maspo and the region in which we operate. As a company that meets all of its energy needs from renewable sources, we are pleased to play a role in efforts to reduce the energy supply gap in Türkiye and neighboring regions.”
Gürmen Group recently became the first Turkish company to be accepted into the RE100 platform, which brings together the world’s strongest brands in renewable energy and is recognized as the global renewable energy league.
About Gürmen Group:
Gürmen Group operates in the fields of ready-to-wear and retail, energy, mining, agriculture and livestock, construction, and real estate development. Based in Türkiye, the Group employs approximately 3,000 people and exports ready-to-wear products to nearly 60 countries worldwide.
About Geothermal Group:
The German Geothermal Group offers a comprehensive value chain in the field of geothermal energy, covering all stages from feasibility studies and engineering to financing and the construction of power generation facilities. The Group undertakes numerous international projects, primarily in Türkiye, East Africa, and Europe.