„Obviously, we are really pleased with the success in Turkey. It represents important progress in our foreign expansion and it is positive news for our investors, who will surely appreciate our connection to a strong local partner. We find the Turkish energy sector very attractive for us, “commented on the results of the tender Martin Roman, Chairman of the Board of Directors and CEO of CEZ.
Owing to the success in the tender, the company Akenerji Elektrik Üretim A.Ş., its parent company Akkök Sanayi Yatirim in Geliştirme A.Ş. and CEZ will establish a joint-venture called “AkCez OGG”. CEZ Power Company should account for 50 % of the authorized capital, Akenerji for 45 % and its parent company Akkök for 5 %.
Annually, the region of Sakarya (Sedas) supplies 1.3 million customers with nearly 8 TWh of electricity, while 50 % of the customers are industrial consumers. Turkey, with its 70 million inhabitants, is comparable to entire Central Europe. In 2006 the country consumed roughly 170 TWh of electrical energy. The Turkish economy and consequently its electricity consumption have been growing at a very fast pace. A yearly increase in electricity consumption reaches ca 8 – 9 %, while the increases in European countries are usually about 2 -3 %.
Moreover, experts anticipate further growth in electricity consumption due to very low consumption per capita at present, which represents a quarter of the EU average. Other factors of the anticipated dynamic growth in consumption are, among others, fast urbanization, growing population, with a significantly higher number of young people, when the average age of Turkish population is 27.3 compared to 38.5 in EU countries, and apparently the economic growth. According to experts, by 2020 the country needs to build power plants with the installed capacity of ca 50,000 MW to cover the rising demand for electricity.
Map of distribution regions of Sedas
Brief description of Akenerji, Akkök and CEZ
The company Akenerji is a member of the Akkök Group, which employs over 4,000 people in more than 20 industrial and trade companies in textile, chemical, energy, marketing, real estate and insurance sectors. The Akkök Group’s energy flagship firm is the company Akenerji, whose portfolio, and mainly its 12 gas power plants, with total installed capacity of 541 MW produce heat and electricity, and which, at the same time, develops hydro and wind power plant projects aiming to enlarge the production basis of the company to 960 MW.
CEZ Power Group is a leading Central-European utility group with almost 7 million customers and the production portfolio with the installed capacity of 14,300 MW. The company´s market capitalization exceeds 30bn EUR, the company stocks are traded at the Prague and Warsaw Stock Exchanges. In addition to its operation in the Czech Republic, CEZ Group is active in more than 10 other countries in the region of Central and South-Eastern Europe. On top of generation and sale of electricity, its activities include telecommunications, informatics, nuclear research, designing, construction and maintenance of energy equipment, raw material mining or by-product processing.