EXERGY SIGNS NEW CONTRACT WITH GCL ND ENERJI A.S. FOR A 12.6 MWe GEOTHERMAL POWER PLANT

Local manufacturing of the power plant equipment, including turbine and generator will qualify GCL ND Enerji A.S. for an additional incentive on the feed-in-tariff rate bringing an increase of revenue of + 19%

Olgiate Olona, 15 February 2018 - EXERGY has added a new geothermal project to its portfolio. The Italian company, leading manufacturer of ORC systems with the Radial Outflow Turbine technology owning the second largest geothermal binary fleet worldwide with approximately 370 MWe in portfolio, has recently signed a new contract in Turkey with GCL ND ENERJI A.S. for a 12.6 MWe geothermal power plant.


Located in Alasehir, Manisa region, the plant will exploit a medium enthalpy resource at approximately 150 °C to generate 12.6 MWe of electricity from an ORC system equipped with Radial Outflow Turbine technology and utilizing an air cooled condensing system. Some of the power plant components will be manufactured domestically in EXERGY's Turkish workshop based in Izmir and thanks to an exclusive partnership with NIDEC ASI for the supply of the generators. Made-in-Turkey production will allow GCL to benefit from an additional total incentive of 0.2cent USD/kWh on top of the basic feed-in-tariff rate of 10.5cent USD/kWh, thus the increase of 19% in revenue for the client.

Golden Concord Group Limited ("GCL") is an integrated energy service provider whose business covers Power, PV and Clean Energy, Oil & Gas, Green Smart City, semiconductor materials, new energy vehicles and Finance. Holding several listed companies including GCL-Poly, GCL System Integration and GCL New Energy, GCL's footprints have been across 31 provinces (cities and autonomous regions), Hong Kong, and Taiwan in China, as well as Africa, North America, Southeast Asia and Europe.

ND Group, based in Eindhoven, the Netherlands, is a privately owned holding and investment company operating in multiple sectors and industries worldwide, investing and encouraging entrepreneurial start-ups with potential for long-term growth. The company is always on the lookout for innovative ideas and businesses with a focus on key markets such as Energy, Technology, Services, Fashion, Food and Beverages. Since 2015, GCL and ND Groups started their win-win collaboration to develop a geothermal power plant in Turkey.

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