VERBUND entry to Turkish market signed and sealed

6/1/2007Wien

EU gives green light for interest in "EnerjiSA". VERBUND, Austria's leading electricity company, will now commence operations in the Turkish electricity market.

Following the EU Competition Commission's approval two nights ago for a participating interest in energy company "EnerjiSA", the closing agreement for the VERBUND joint venture with the Turkish Sabanci Group took place yesterday, Thursday. Both VERBUND and Sabanci will each receive just under half of the shares in "EnerjiSA". 

The energy sector in Turkey has enormous growth potential. By 2020, electricity consumption will have quadrupled. With EnerjiSA, VERBUND and Sabanci are aiming for market leadership in the strongly growing and opening Turkish electricity market.