OYAK General Manager Süleyman Savaş Erdem emphasized the importance of owning the entire plant, which plays an important role in Türkiye's electricity generation, and stated: "We attach importance to growth in the energy sector in light of current geopolitical developments. We consider this investment as a critical acquisition in terms of Türkiye's energy supply security."
OYAK, one of Türkiye's leading industrial groups, has added a new link to its strategic investments in the energy sector in the last 6 years. Having reached an agreement to acquire 51% of the shares of Germany-based Steag Power GmbH, OYAK will have full control over the İSKEN-Sugözü Power Plant. At a time when geopolitical risks are increasing and energy supply security is of decisive importance, OYAK will further strengthen its investment portfolio in the energy sector with this move. With an installed capacity of 1360 MWe, the plant alone meets approximately 2.6% of Türkiye's total electricity demand.
OYAK General Manager Süleyman Savaş Erdem pointed out that in a period when geopolitical developments have made energy security a priority issue on a global scale, facilities capable of stable and efficient production are of strategic importance for the country and stated, “We consider the acquisition of the entire plant, which has a significant share in Türkiye's electricity generation, as a critical acquisition in terms of energy security in light of current geopolitical developments.”
Long-term strategic gain
Stating that the acquisition of İSKEN is a concrete reflection of OYAK's vision of generating long-term sustainable value, OYAK General Manager Erdem stated: "In the world, energy security is no longer just an energy policy, but is now recognized as a matter of national security.
As OYAK, we act with this responsibility and manage our energy investments not by focusing on short-term costs, but by taking long-term strategic steps. The İSKEN acquisition is a clear example of this approach. We will make İSKEN, which is of strategic importance with its high capacity and base load role in the system, a 100% OYAK subsidiary. The payback period for this acquisition was calculated as 6.5 years. This period, which can be considered quite short for investments of this scale in the energy sector, shows that OYAK's financial discipline and resource efficiency coincide with its strategic decisions."
Strong focus on renewable energy
Erdem pointed out that OYAK is pursuing a strong and planned transformation strategy in the field of renewable energy and stated the following:
"As OYAK, we consider not only the energy needs of today but also the energy needs of future generations; we make investments that center on environmental sustainability. Today, our solar energy projects, which will reach a total installed capacity of 2200 MWp in 14 provinces and 25 different regions, are progressing rapidly. All projects are expected to be commissioned and fully operational by the end of 2028. These investments are primarily designed to meet the energy needs of OYAK companies. Our goal is to optimize energy costs while securing sustainable energy supply. When the investments are completed, our annual production capacity will be approximately 3.5 million MWh. Thus, we will contribute not only to the energy need but also to the reduction of carbon emissions, creating a tangible environmental benefit in line with our country's green transformation goals. We will continue to work for a climate-positive future with a responsible growth approach."
Operational efficiency will increase
Yüksel Yılmaz, Chairman of the Board of Directors of OYAK Energy Sector Companies, noted that OYAK's activities in the energy sector, including sustainable energy investments, have maintained their growth trajectory in recent years. Yılmaz stated, "Thanks to its uninterrupted and stable production capacity, İSKEN is one of the main power plants contributing to meeting the base load in Türkiye's electricity supply. As OYAK, we have increased our operational efficiency, decision-making flexibility and long-term planning capability by consolidating the shareholding structure in İSKEN, which is a great power for its region."
Generates 9 billion kWh of electricity annually
With an installed capacity of 1360 MW, İSKEN- Sugözü Power Plant generates approximately 9 billion MWh of electricity annually. The power plant, which is an important socio-economic actor in the Çukurova region, creates resources for the regional industry and employment, while making a steady contribution to Türkiye's electricity supply security.
İSKEN has also started multi-source renewable energy generation projects within the scope of energy transformation. In this context, SUGES, an auxiliary source solar power plant with an installed capacity of 21.12 MWp, was established and commissioned. The necessary preliminary authorization processes for the expansion of SUGES up to 57 MWp have been completed and project development studies are ongoing.
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