Turkey-based OYAK Mining Metallurgy Group has made a strategic move in the energy sector. OYAK has completed the acquisition of a 51 percent stake in Germany-based Steag Power GmbH, according to a report in the Turkish daily newspaper Dünya. This gives OYAK the full control of ISKEN Energy, which alone accounts for approximately three percent of Turkey's total electricity production.
Murat Yalçıntaş, general manager of OYAK, described this move as “a strategic investment for Turkey’s energy security.”
With this acquisition, OYAK has acquired full ownership of the ISKEN-Sugözü Power Plant, one of Turkey’s largest thermal power plants. The shares transferred by Steag Power give OYAK full control over the plant, as well as its port and handling operations.
ISKEN Energy, located in Adana with an installed capacity of 1,360 MW, generates 9 billion kWh of electricity annually, as SteelOrbis previously reported. The facility also includes a 27 MW solar power plant.