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Verbund increases shares in Italian joint venture Sorgenia SpA
Together with its Italian partner CIR, Verbund has agreed upon a capital increase in the jointly held joint venture Sorgenia SpA by Euro 200 million in 2008 and a further 150 million Euro in 2009. With that, the direct and indirect shares of Verbund in Sorgenia SpA will rise from 38 to 41 %. The share will further increase to 44 % in 2009.
The consortium consisting of Verbund (49 %), Sabanci (49 %) and previously qualified Enerjisa (2 %) is bidding for the acquisition of electricity distribution in the regions of Ankara (Baskent EDAS) and Sakarya (SEDAS). The Baskent region supplied some 10 TWh to its electricity customers in 2007; neighbouring Sedas, situated between the Anatolian side of Istanbul and Ankara, supplied some 8 TWh.
Together, partners Sabancı and Verbund aim at further developing generation, distribution and supply, as well as wholesale/trading of electricity in Turkey and are committed to achieving a share of at least 10 % in the Turkish electricity market by 2015, thus aiming for market leadership. Enerjisa's target portfolio for 2015 includes an installed capacity of 5,000 MW.
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