Turkish contractor Ağaoğlu's energy group have signed a TL 735 million accord with Germany's Nordex Energy GmbH for wind turbines for a 125 megawatt (MW) wind power plant in the southern Marmara province of Balıkesir.

Speaking at the signing ceremony, chairman of Ağaoğlu Group Companies Ali Ağaoğlu underscored that the Ağaoğlu Energy Group continues its investment in the sector. The company ordered German Nordex 19 wind turbines with a capacity of 68.4 MW last year, according to him.

This year, the company made two wind power plants in Bursa and Yalova, two cities in the Marmara region, operational. The firm invested TL 700 million in renewable energy in 2016 and TL 400 million this year, Ağaoğlu said and emphasized that energy investments will greatly contribute to a decreasing current account deficit, which is fostered by energy imports to a considerable extent.

Each investor in renewable energy will positively impact the current account deficit, Ağaoğlu said and continued: "The local production of towers, blades, and generators that we are going to use in Balıkesir Wind Power Plant is another positive contribution to the Turkish economy."

Ağaoğlu Energy Group Head Hakkı Ağaoğlu noted that the company made a TL 400 million investment in Bursa and Yalova wind power plants, again in partnership with German Nordex Energy GmbH. These two plants with a power capacity of 68.4 MW are able to meet power demands for 160,000 households. Nordex Energy GmbH Turkey Sales Manager Habib Babacan also thanked Ağaoğlu, which is an important renewable investor, for their trust in the company. Babacan stated that Nordex will provide Ağaoğlu Energy Group with 31 wind turbines as part of the agreement, stressing that the company's investments will continue in Turkey.