2/5/2015

Chinese companies invest in Turkish electric utilities

Hürriyet – China Machinery Engineering Corporation and GUOXIN International Investment Corporation (GXIIC) have acquired majority stakes in Turkish power distribution company Osmangazi Elektrik Dagitim A.S. (OEDAS) and its offshoot, Osmangazi Elektrik Perakende Satis A.S. (OEPSAS), for USD 384.6 million.


First privatized in 2010 via a tender process, OEDAS’ management was taken over by the country’s electricity watchdog, the Energy Market Regulatory Authority (EMRA), in 2013, after the winning bidder failed to meet the contract requirements.


The Eskisehir-based utility serves five provinces in the Aegean and Central Anatolian regions of Turkey: Afyonkarahisar, Bilecik, Eskisehir, Kutahya, and Usak.

Turkey; energy sector; turkey privatization; osmangazi elektrik; China Machinery Engineering Corporation; GUOXIN International Investment Corporation