The 530MW Dervish project is targeted to come online in November 2015 in Karaman, Turkey.
It will feature a General Electric (GE) combined-cycle gas turbine fed with an additional 50MW of solar-generated steam, and 22MW of wind turbines.
MetCap chairman Celal Metin says the current investment is €400m ($587m), one third of that being equity.
Construction is targeted to begin at the end of the year, with Ankara-based Gama