Investment decision for power plant project

Enerjisa, jointly owned and controlled by H.Ö. Sabancı Holding A.Ş. and Österreichische Elektrizitätswirtschafts-Aktiengesellschaft (Verbund), has finalized with the jointly liable consortium consisting of Mitsubishi Heavy Industries Ltd. and Austrian A-TEC Power Plant Systems AG its EPC contract negotiations in January 2008 and has today given green light for project implementation. 

With the consortium Mitsubishi Heavy Industries/A-TEC PPS, Enerjisa aims for commercial operation of the Bandırma power plant in autumn of 2010. The plant conforms to all applicable Turkish and European Union standards and aims to be the most efficient gas-fired power plant in Turkey with a guaranteed net efficiency of 59%. The generation license has been granted by EMRA and EIA Report has been approved by the Turkish Ministry of Environment and Forestry.

Enerjisa aims to have an installed generation capacity of not less than 5,000 MW by 2015, Sabancı and Verbund also intend to be a leading electricity wholesaler and jointly purchase electricity distribution grids and further generation capacities within the course of the privatization process to cover the entire value chain. Together, the partners aim to achieve a share of at least 10% in the Turkish electricity market by 2015.

The current installed capacity of Enerjisa is 455 MW. Enerjisa owns and operates four natural gas power plants located in Kocaeli, Adana, Çanakkale and Mersin with a total capacity of 370 MW and four hydroelectric power plants that are located in Antalya, Mersin and Kahramanmaraş regions with a total capacity of 85 MW. Additionally, a portfolio of some 2.600 MW is currently in planning and implementation status. This consists of nine hydroelectric power plants totalling about 1000 MW, the 920 MW Bandırma natural gas-fired power plant, the 450 MW Tufanbeyli coal-fired power plant and several wind power projects.