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Mergers and Acquisitions in Energy Sector

Shares of Entek Elektrik Üretim A.Ş. under Koç Holding and Aygaz, will be transferred to Tüpraş. It is announced that for sale of SEDAŞ and SEPAŞ, Palmet Group submitted bid. Palmet Enerji carries out rehabilitations in Baymina Natural Gas Cycle Power Plant taken from French Engie...

You may find here noteworthy mergers, acquisitions and cooperations in the Energy Sector.

Shares of Entek Elektrik Üretim A.Ş under Koç Holding and Aygaz, will be transferred to Tüpraş. Following information given in the announcement made through the company to Public Enlightening Platform (KAP): “As the result of considering the restructuring alternatives of Koç Community Energy Group companies’ strategic targets, Entek shares corresponding to 49.62% of Entek Elektrik Üretim A.Ş. capital in the activities of our company are decided to be transferred to Türkiye Petrol Rafinerileri A.Ş.by partial division, on participation model, simultaneously, Entek shares in the active of Aygaz A.Ş., our attached partnership, corresponding to 49.62% will be transferred to Tüpraş, through partial division on share transfer to partners model by Aygaz.”

There are two hydroelectricity power plant of total 178 MW installed capacity and 60 MW capacity wind power plant in Entek Elektrik portfolio. In the meantime, company had founded a company under the title of Eltek Elektrik Enerjisi İthalat İhracat ve Toptan Ticaret A.Ş. in 2003 for participating in wholesale electricity purchase and sale, import and export activities in the electricity market.

Sale of SEDAŞ:

Meanwhile, Palmet Group, gas distributor of Erzurum and İzmit has taken place among the bidding groups fort he sale of Sakarya Elektrik Dağıtım A.Ş. (SEDAŞ) and Sakarya Elektrik Perakende Satış AŞ (SEPAŞ). Palmet Enerji Executive Board Chairperson Doğanay Samuray has noted in the announcement made to Enerji Günlüğü (Energy Daily), "Palmet has got interested in 100% of it, we do not favor partial purchase. Our preparations in terms of financing are ready. Both the own sources and foreign sources are almost ready. We also considered the operational source requirements of the company we will purchase. Investment is also needed there."

As it might be recalled, Başkent Doğalgaz had announced bid was given for  SEDAŞ's AKCEZ shares sale together with Torunlar Enerji TEBA:2066/ April 22, 2022

"Baymina Natural Gas  Cycle Power Plant has been rehabilitated":

Reminding in March 2021 period, Baymina Natural Gas  Cycle Power Plant in Ankara was purchased from French Engie TEBA:2010/ March 9, 2021, Samuray said, “We have modernized half of the system. We raised the efficiency. Efficiency raising work in the other half will be completed within two months. Thus, the entire power plant will be put into operation with full efficiency”. Samuray has reported that the efficiency of  Baymina Natural Gas  Cycle Power Plant raised to 57.6% from  51% and said, “Initial foundation cost of facility we bought is about USD 700 million. We have spent about USD 100 million for efficiency increase. We estimate this investment will be returned in maximum 1,5 years”. 

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