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OMV Increased Paid In Capital of OMV Samsun Electricity A.Ş. to TL 2.5 Billion

OMV Samsun Electricity Director General Öztürkmen, "Increase in electricity demand will continue in parallel to economic growth. In next ten years, electricity consumption expected to grow by about 4% each year."

OMV, the biggest energy company of Austria and fourth biggest energy company of Europe, has increased the paid in capital of OMV Samsun Electricity A.Ş., their biggest investment in Turkey, to TL 2.5 billion. According to an announcement in the Official Gazette, OMV Samsun Electricity formed in Samsun Terme in 2013 with an investment cost of about 600 million euro, fully by OMV within the coverage of “direct foreign investment”, has increased TL 1 billion 530 million paid in capital to TL 2.5 billion with TL 976 million 993 thousand increase.

OMV Samsun Electricity Director General Korkut Öztürkmen

OMV Samsun Electricity Director General Korkut Öztürkmen has commented on the developments in the sector. Öztürkmen has noted that according to projection of  International Energy Outlook, global net electricity generation will increase total 69% until 2040 as from 21.6 trillion kWh to 36.5 trillion kWh. OECD net electricity generation included Turkey, envisaged to reach 14.2 trillion kWh in 2040, compared to global electricity consumption growth. Noting this corresponded to 38% growth, Öztürkmen went on to say, “Increase in electricity demand will continue in parallel to economic growth. In Turkey’s electricity consumption about 4% growth expected each year within next 10 years. However, in many places around the world, political actions for increasing efficiency will inevitably diversify the economic growth rates and electricity demand growth rates.”

Reminding rapidly commissioning new generation natural gas power plants and for they are the insurance of Turkey energy supply to be operational as the result of their flexibility, Öztürkmen said, “new generation natural gas power plants like OMV Samsun Electricity can easily render side services like frequency control, reactive power voltage regulation in electricity for eliminating short term imbalances of transmission system. OMV Samsun Natural Gas Combine Cycle Power Plant of 890 MWe capacity will have capacity to cover about 2% of energy requirement of Turkey, in other words, will meet Samsun, Ordu, Sinop, Amasya and Çorum provinces total electricity requirement. New generation combine cycle natural gas power plants is the most suitable, flexible and environment friendly electricity generation technology to maintain system balance on time and to eliminate base load requirement safely with the increase of renewable capacity like hydroelectricity, wind and solar. We will generate annually about 7 billion kW/h electricity, to contribute the electricity supply security of the region and the country”.

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