Announcements

 

 

‘ 20 December 2011 – Energy Institute' OYAK will conduct the AYAS Project in partnership with AES Entek.

 

OYAK will proceed its AYAS project initiative created for generating energy, in partnership with AES Entek, the joint energy company of Koç Group and AES. In this partnership in which OYAK and AES Entek will participate with 50 percent share each after obtaining necessary official permissions, it is planned to construct a power plant with 625 MW capacity in İskenderun Gulf, Sugözü Yumurtalık locality, generating approximately 4.5 billion kWh electricity per year. In the written declaration on the matter, it is emphasized that this partnership will install an exemplar power plant that is environment-sensitive, with high technology chimney gas emissions, using cutting edge technologies and consuming high quality fuel, and stated that, as an indication of environment awareness and sensitivity of the partners, the plant will be installed and operated in international standards in an environment friendly manner. In the declaration, it is stated that the licenses and permissions required for the project are almost completed, and the financing is foreseen to be provided during the year 2012. With its supercritical technology and high efficiency, the plant will generate cheap, reliable and clean energy, and is targeted to be operational as of 2016.


 


AES Entek aims to become one of the leading electricity producers of Turkey

 

AES Entek Elektrik Üretimi A.Ş. is a joint establishment of Koç Holding and Aygaz along with AES, one of well-known companies of the USA. “We create an important partnership with OYAK in electricity generation, thus reiterate our determination in investment in energy field in our country, and our confidence in energy sector of our country” said Company’s General Manager Özgür Kahramanzade on the partnership. Özgür Kahramanzade emphasized that, with this decision on investment, AES Entek took an important step in creating a production portfolio based on diversified sources and technologies, and continued: “We will continue to invest in plants using fossil based fuels such as coal and natural gas, as well as hydroelectricity, wind and other renewable sources, in order to become one of the leading players of Turkish electricity market in the future. This growth strategy, AES Entek will continue its new investments as well as taking the opportunities in production privatizations which are expected to commence in the near future and the acquisition opportunities. We will closely pursue various investment opportunities, not only in Turkey, but also in the countries of the region.”