Verbund/Sabanci JV successful in first privatizations of Turkish electricity distribution companies

7/1/2008Wien

Today in Ankara, the Verbund/Sabanci bidding consortium was selected best bidder by the Turkish Privatization Agency in the tendering processes for the acquisition of 100 % of the shares in the company Baskent EDAS, operating the electricity distribution in the region of Ankara. The Baskent region supplied some 10 TWh to its electricity customers in 2007.

The bidding consortium consisting of H. Ö. Sabanci Holding A. S. (49 %) and Österreichische Elektrizitätswirtschafts-Aktiengesellschaft (Verbund) (49 %), together with their previously qualified and jointly owned Turkish electricity generation joint venture Enerjisa Enerji Üretim AS (2 %), was selected as winner of the auctions based on its bid of 1,225 million USD for Baskent EDAS.

With about 3 million customers, Baskent accounts for some 9% of overall Turkish electricity region sales. In 2007 Baskent generated sales of nearly 1,1 billion USD.

Together, partners Sabanci and Verbund aim to become Turkey´s leading integrated utility, targeting in 2015 a market share of at least 10 % in the Turkish electricity market. They aim at further developing generation, distribution and supply, as well as wholesale/trading of electricity in Turkey. Besides distribution in Baskent, EnerjiSA's target portfolio for 2015 also includes an installed capacity of 5,000 MW, up from a currently installed capacity of 455 MW.