1/27/2011

Sabanci Holding to invest EUR 5.5 billion in energy by 2015

Today’s Zaman - Sabanci Holding, one of Turkey's largest business conglomerates, will invest EUR 5.5 billion (USD 7.5 billion) in electricity generation over the course of the next four years, said a key executive of the holding on Wednesday.

Speaking at a press conference yesterday, Selahattin Hakman, Head of the holding's energy group, Enerjisa, also noted that this year's investments on the production side will top EUR 930 million. “Our investments in electricity distribution will total TRY 1.2 billion (USD 770 million) by 2015. Enerjisa acquired Ankara’s electricity distribution company Baskent last year, as part of the privatization program of the country’s power grid.

“By investing EUR 5.5 billion in energy production, Sabancı Holding aims to have 5,000 megawatts of installed capacity and 10 percent of the market share in Turkey,” he said, adding that 50 percent of the group's portfolio will be in the field of renewable energy production. “Enerjisa is interested in power plant privatizations scheduled for this year,” said Hakman, adding that they will selectively take part in the tenders as they came out.

According to the International Energy Agency (IEA) estimates, global electricity demand will increase annually by 2.5 percent on average until 2035. Demand for electricity in Turkey dropped by 2 percent in 2009 due to the global economic turmoil, but rebounded last year and showed a performance way above expectations, with an 8 percent rise.
turkey; sabanci; enerjisa; turkish energy industry; energy investment; renewable energy; energy demand

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